GVK Power & Infrastructure Ltd (GVKPIL) has signed a concession agreement for the Rs 16,000-crore Navi Mumbai International Airport project. The agreement has been signed through a special purpose vehicle, Navi Mumbai International Airport Pvt Ltd, with CIDCO, the nodal authority for implementation of the project. Through this special purpose vehicle, GVKPIL holds a 74 per cent equity stake in the proposed airport, with CIDCO holding the remaining 26 per cent. The initial concession period is 30 years from the appointed date and is extendable for 10 years