The Hindu : National : Nagpur airport transfer to joint venture firm approved

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Nagpur airport transfer to joint venture firm approved

Special Correspondent

To be developed into world-class passenger and cargo hub
AAI to hold 49 per cent stake and MADC 51 per cent

NEW DELHI: The government on Thursday approved the transfer of the Dr. Ambedkar International Airport in Nagpur to a joint venture company (JVC) for developing it into a world-class multimodal passenger and cargo hub.

“In a move that will encourage economic activity in the Vidarbha region, the Union Cabinet has approved the transfer to the JVC comprising the Maharashtra Airport Development Company (MADC) and the Airports Authority of India (AAI),” Information and Broadcasting Minister P.R. Dasmunsi told reporters here.

In the joint venture firm, the AAI — which owns the airport — would hold 49 per cent stake and the MADC 51 per cent equity.

The Cabinet also approved the AAI subscribing to a Rs. 4.9-crore capital in the JVC, which would have a total subscribed capital of Rs. 10 crore.

According to a techno-economic feasibility study conducted by the State government through a consortium of consultants, Nagpur has good potential for becoming a hub airport, thanks to its geographical location.

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