Thursday, August 31, 2006

Rs 2000 cr facelift for Nagpur Airport

Mumbai: Maharashtra Airport Development Company (MADC), the special purpose vehicle of the state government, will float a new company to develop Nagpur Airport at an estimated cost of over Rs 2,000 crore.
In the new company, private players will be permitted to own 64 per cent of the equity, MADC will hold 26 per cent in the form of land and 13 per cent will be with Airports Authority of India (AAI).
Confirming this, MADC vice-chairman and managing director RC Sinha said: “MADC will float the new company once the airport has at least 50 flights landing and takeoff in a day.” Currently, Nagpur Airport operates 26 flights a day.
Nagpur Airport, spread over 1,200 hectares, will be an international hub with ultimate space for parking 50 aircraft in the terminal and 50 aircraft remote.
31/08/06 P R Sanjai/Business Standard
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