AAI, MADC to sign share holding agreement for developing Nagpur Airport

Nagpur: The Airports Authority of India (AAI) and Maharashtra Airport Development Corporation (MADC) have reached a consensus over the shareholding pattern of the company that will develop the upcoming international airport in Nagpur, said a recent Projects Today report. AAI and MADC will shortly sign an agreement in this regard. The Union Cabinet had given the go-ahead to the AAI for handing over the airport to the SPV (Special Purpose Vehicle) in February this year. AAI will be given 49 per cent stake for bringing existing airport infrastructure and around 400 hectare, while the MADC will get 51 per cent for the additional land it will bring for the project.
The airport will be part of Multi Nodal International Cargo Hub at Nagpur and will be spread over 1,364 hectare. The cost of the project is now pegged at around Rs 4,500 crore, from the earlier estimate of Rs 2,500 crore. As part of the project, the existing runway will be upgraded from 3,200x45 metres to 3,600x45 metres to meet international standards. Besides, there will be a parallel runway of 4000x60 metres. The airport will have parking space for 50 aircraft at the terminal and 50 in the remote, apart from a semi-circular terminal building with an area of three million sq ft. Once operational, the airport is expected to attract around 14 million passengers and 0.87 million tonne cargo annually. A private player is likely to be roped in to carry out these developments.
23/12/08 TravelBizMonitor

To Read the News in full at Source, Click the Headline

Categories: Airports Dec 2008