Mumbai: GVK has won bid for Rs 16,000 crore Navi Mumbai airport project, CNBC-TV18 reported. GVK-led Mumbai International Airport Ltd (MIAL) on Monday submitted the bid in a sealed cover.

Another big contender for the coveted project that submitted bid same day was GMR Infrastructure that failed to win bid on Monday's draw at City and Industrial Development Corporation headquarters.

CIDCO that has its headquarters in Navi Mumbai is an extended arm of Maharashtra's city and town planning department. CIDCO had extended the deadline on three occasions for a fair bidding process.

The project will be built on public private partnership (PPP) model and CIDCO will incur pre-development work costs which the town planning authority will later recover from airport developer, GVK.