Nagpur Airport Expansion Gets Approval as MADC Transfers 786ha Land
31 Dec 2024
2 Min Read
CW Team
Maharashtra Airport Development Company (MADC) has given the green light for Nagpur Airport's major expansion, approving the transfer of 786 hectares of land to Mihan India Limited (MIL) on Saturday. This land, which extends to Air India's aircraft maintenance and overhaul depot in Mihan-SEZ, will be used to build the expanded airport.
MIL, the operator of Babasaheb Ambedkar International Airport, has signed a concessionaire agreement with GMR Group for the brownfield expansion. The land transfer formalities are set to be completed by April, enabling GMR to begin construction. However, the transfer requires the rehabilitation of residents in Shivangaon and nearby areas, which MADC is working to complete first.
MADC, which holds a 51% stake in MIL, is now collaborating with GMR to develop the airport infrastructure. As part of this partnership, MIL will receive the land from MADC, which also aims to enhance the airport鈥檚 facilities, including new terminals, parking spaces, and a second runway in future developments.
CM Devendra Fadnavis, MADC's chairman, indicated that the state will invest in infrastructure such as night landing facilities and runway expansions to ease the burden on urban airports.
MADC also plans to take control of five airports in Maharashtra previously operated by Reliance Airport Developers Limited (RADL). This includes airports in Yavatmal, Baramati, Nanded, Osmanabad, and Latur. Fadnavis is optimistic that this will speed up development.
Maharashtra Airport Development Company (MADC) has given the green light for Nagpur Airport's major expansion, approving the transfer of 786 hectares of land to Mihan India Limited (MIL) on Saturday. This land, which extends to Air India's aircraft maintenance and overhaul depot in Mihan-SEZ, will be used to build the expanded airport.
MIL, the operator of Babasaheb Ambedkar International Airport, has signed a concessionaire agreement with GMR Group for the brownfield expansion. The land transfer formalities are set to be completed by April, enabling GMR to begin construction. However, the transfer requires the rehabilitation of residents in Shivangaon and nearby areas, which MADC is working to complete first.
MADC, which holds a 51% stake in MIL, is now collaborating with GMR to develop the airport infrastructure. As part of this partnership, MIL will receive the land from MADC, which also aims to enhance the airport鈥檚 facilities, including new terminals, parking spaces, and a second runway in future developments.
CM Devendra Fadnavis, MADC's chairman, indicated that the state will invest in infrastructure such as night landing facilities and runway expansions to ease the burden on urban airports.
MADC also plans to take control of five airports in Maharashtra previously operated by Reliance Airport Developers Limited (RADL). This includes airports in Yavatmal, Baramati, Nanded, Osmanabad, and Latur. Fadnavis is optimistic that this will speed up development.
Next Story
3i Infotech Reports Rs 7.25 Bn Revenue for FY25
3i Infotech, a leading provider of digital transformation, technology services and technology solutions, announced its consolidated financial results for the fourth quarter and full year FY25, ended on March 31st, 2025. The company maintained its growth momentum, displaying consistent progress for the 3rd consecutive quarter.In Q4 FY25, 3i Infotech reported revenue of Rs 1.87 billion, reflecting steady performance compared to Rs 1.81 billion in Q3 FY25 and Rs 1.97 billion in Q4 FY24. The company delivered strong profitability improvements, with gross margin growing by 14.8 per cent Q-o-Q and 1..
Next Story
Emerald Finance Joins Baya PTE to Boost SME Bill Discounting
Emerald Finance is a dynamic company offering a spectrum of financial products and services including its flagship Earned Wage Access (EWA) in India, has entered into a strategic partnership with Singapore-based Baya PTE through its Indian subsidiary. This collaboration aims to strengthen bill discounting services for Small and Medium Enterprises (SMEs), enabling faster access to working capital and improved cash flow management.The initiative is designed to support SMEs that supply to large corporates such as JSW Steel, Delhivery, and PVR INOX, among others. By facilitating timely invoice dis..
Next Story
BLS E-Services Crosses Rs 5 Bn Revenue Mark in FY25
BLS E-Services, a technology-enabled digital service provider, announced its audited consolidated financial results for the quarter and full year period ended 31 March 2025.Speaking about the performance and recent updates, Shikhar Aggarwal, Chairman, BLS E- Services said, 鈥淲e are delighted to report a remarkable performance in FY25, as we achieved several milestones during the fiscal year. FY25 marked our highest-ever financial performance, as we surpassed Rs 5 billion milestone in Total Income during the year, which was reported at Rs 5.45 billion, a notable YoY growth of 76 per cent. The ..
