Tuesday, January 08, 2019

CM approves consortium for Purandar airport project

Pune: Chief minister Devendra Fadnavis has approved a consortium, comprising four local authorities, to form a Special Purpose Vehicle (SPV) to expedite the Purandar airport project.
The Pune Metropolitan Region Development Authority (PMRDA), along with Mumbai Metropolitan Region Development Authority (MMRDA), City and Industrial Development Corporation of Maharashtra (CIDCO), and the Maharashtra Airport Development Company will form a government consortium for investment of seed capital for the proposed airport project.

The CM replied in the affirmative to a text message sent by TOI on the formation of the consortium to speed up the project. Sources close to the CMO said that the local authorities would pitch in with 25 per cent investment and they would have equity participation in the project.

“SPV will help speed up the project. With the government otherwise cash strapped for funds, these local bodies through their various schemes can help invest in the project,” stated the official. With PMRDA being given the rights for development, officials said that it would help in overall development of the project. Investment will come through their various town planning schemes and other means of land monetisation.

08/01/19 Nisha Nambiar/Times of India