Consortium for Purandar Airport project approved. Here's more!
AVIATION & AIRPORTS

Consortium for Purandar Airport project approved. Here's more!

In order to expedite the Purandar Airport project, Maharashtra Chief Minister Devendra Fadnavis has approved a consortium comprising four local authorities to form a special purpose vehicle (SPV). 

The government consortium for investment of seed capital for the proposed airport project will reportedly be formed by 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.

As reported, local authorities are expected to pitch in with 25 per cent investment and would have an equity participation in the project. The SPV is expected to speed up the project, while the local bodies through their various schemes can help invest in the project. The rights for development will be given to the PMRDA and is expected to help in the overall development of the project. Investment for the project is expected to come through various town planning schemes and other means of land monetisation.

Last year, during the ground-breaking ceremony of the Mhalunge-Mann Hi-tech city in Pune, Fadnavis had announced a consortium as well as formation of an airport city around the proposed Chhatrapati Sambhaji Raje International airport at Purandar. Besides, the state government is in plans to develop the airport city to ensure proper planning for Purandar airport and surrounding areas.

In order to expedite the Purandar Airport project, Maharashtra Chief Minister Devendra Fadnavis has approved a consortium comprising four local authorities to form a special purpose vehicle (SPV).  The government consortium for investment of seed capital for the proposed airport project will reportedly be formed by 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. As reported, local authorities are expected to pitch in with 25 per cent investment and would have an equity participation in the project. The SPV is expected to speed up the project, while the local bodies through their various schemes can help invest in the project. The rights for development will be given to the PMRDA and is expected to help in the overall development of the project. Investment for the project is expected to come through various town planning schemes and other means of land monetisation. Last year, during the ground-breaking ceremony of the Mhalunge-Mann Hi-tech city in Pune, Fadnavis had announced a consortium as well as formation of an airport city around the proposed Chhatrapati Sambhaji Raje International airport at Purandar. Besides, the state government is in plans to develop the airport city to ensure proper planning for Purandar airport and surrounding areas.

Next Story
Infrastructure Transport

Odisha to Get Kharagpur-Visakhapatnam Expressway Soon: Minister

A new greenfield highway connecting Kharagpur in West Bengal and Visakhapatnam in Andhra Pradesh, passing through Odisha, is set to be constructed soon. This expressway is poised to become a vital logistics corridor, enhancing high-speed transportation in the region. Works Minister Prithviraj Harichandan shared that preliminary preparations for the project have already commenced. He emphasised that the expressway would play a crucial role in the Gati Shakti Framework of the Central government, describing it as a groundbreaking initiative in road construction for Odisha. Greenfield roads typi..

Next Story
Infrastructure Urban

LTTS wins project to develop smart cities in Colorado USA

Mid-sized Indian IT services company L&T Technology Services (LTTS) announced on Monday a strategic partnership with the Colorado Smart Cities Alliance (CSCA) to develop smart city projects across Colorado by integrating innovation and technology. In a regulatory filing, LTTS stated that the collaboration would utilize its advanced engineering expertise to support CSCA's mission of enhancing urban living and creating sustainable ecosystems through smart city solutions. The partnership aims to develop sustainable, efficient, and technologically advanced communities by pooling resources and exp..

Next Story
Infrastructure Transport

Bengaluru Metro to Expand to 175 km by 2026, Boosting Urban Mobility

Bengaluru’s metro network is set for a major expansion, aiming to extend its total length to 175 km by 2026. This ambitious project is part of the Namma Metro initiative, designed to improve connectivity across the city, alleviate traffic congestion, and promote sustainable urban mobility. The expansion involves constructing new metro corridors, such as the Purple Line and the Outer Ring Road-Airport Line, which will link major city hubs, commercial centres, and residential areas. This development is expected to enhance accessibility for commuters throughout Bengaluru. A key highlight of t..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000