Latest news with #Mihan
Time of India
5 days ago
- Business
- Time of India
GMR Still Stranded At Nagpur Airport, Taxiing Into Red Tape
1 2 Nagpur: The transfer of Nagpur airport to GMR Group is mired in a corporate and bureaucratic maze with the transition expected on May first week seems poised for a hard landing. First, the airport land needs to be officially transferred to Mihan India Limited (MIL), which is the current operator. Once MIL gains possession of the 300-acre land parcel on which the airport stands, it will hand it over to GMR Nagpur International Airport Limited for expansion of the facility. To acquire airport land, MIL must get approval from the Union cabinet. But, reliable sources said, the matter is yet to be considered by the Cabinet. "After a prolonged legal battle, in September 2024, GMR won the right to operate and upgrade the Nagpur airport. Now, what remains is a formal takeover for brownfield expansion of the facility," a top official said. The takeover of the airport by GMR Group appears convoluted now. The Nagpur airport is currently run by Mihan India Limited (MIL), a joint venture of the state govt's Maharashtra Airport Development Company (MADC) and Central govt's Airports Authority of India (AAI). MIL holds 1,000 acres of land. Of this, 700 acres in the periphery belong to MADC. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Guayaquil: Descubre cómo Amazon CFD puede ayudarte a invertir como un pro Empezar ahora Subscríbete Undo However, the 300 acres on which the airport stands belong to AAI. Since AAI is a government body, the transfer of land even to MIL, its joint venture partner, will need approval from the Union cabinet. This may not be simple, said sources. GMR will get the land through MIL, because the concession agreement is between the two entities and not AAI, explained a source. Sources said once MIL receives the land from AAI, it will transfer it to GMR on a 30-year lease. MIL also has the power to extend the lease. It need not necessarily be to GMR, as any other agency can be involved at that time, said a source involved in the entire procedure. Meanwhile, GMR is ready with a loan of Rs 2,600 crore approved in anticipation of the takeover. Even MADC has transferred its share of land in the periphery to MADC. What remains is the airport itself, sources said. MIL was formed in 2009 as a special purpose vehicle (SPV) to take forward the Mihan project. Apart from the SEZ, the plan was to develop the Nagpur airport as a cargo hub by roping in a third party, said sources. INFOGFX BOX Key Steps In Transfer Process * 300 acres of Airports Authority of India (AAI) needs to be transferred to Mihan India Limited (MIL) * MIL is a joint venture of state's Maharashtra Airport Development Company (MADC) and centre's AAI * Transfer requires approval from Union Cabinet, which is still pending * Once MIL receives land from AAI, it will transfer it to GMR Nagpur International Airport Limited * The transfer will be on a 30-year lease, with the option to extend Current Status Loan Approval: GMR has secured a loan of ₹2,600 crore to partly fund the brownfield expansion and operational takeover of the airport MADC's Share: MADC has already transferred its share of land in the periphery to MIL Expected Takeover: The formal takeover of the airport by GMR was expected in early May but has been delayed due to pending land transfer approvals Complexity: The process is convoluted due to the involvement of multiple stakeholders, including AAI, MIL, and GMR Future Development: GMR plans to develop the airport in a phased manner, with an ultimate capacity of 30 million passengers annually
Hindustan Times
05-05-2025
- Politics
- Hindustan Times
Govt firm on Purandar airport project: Chandrashekhar Bawankule
Maharashtra revenue minister Chandrashekhar Bawankule on Monday reiterated the state government's commitment to the proposed Purandar international airport project, appealing to farmers opposing land acquisition to withdraw their protest. He assured them that the government would offer them 'best possible deal' in return for their land. Earlier in the day, the revenue minister met with Jitendra Dudi, the district collector, and other officials to discuss further action on land acquisition for the proposed airport at Purandar. 'The state government has already decided on the project. We will ensure that farmers are adequately compensated and benefit from the development,' he said. Tensions in the region have escalated recently after the district administration faced strong resistance while attempting to conduct drone surveys for land measurement in the affected villages. A protest on May 3 turned violent, resulting in injuries to 18 policemen and damage to drone equipment. In light of this, the administration has paused survey operations for now. Bawankule said he had interacted with some of the aggrieved farmers who remain reluctant to part with their land. Drawing parallels with the Mihan project in Nagpur, he said, 'Locals cooperated there, and the project transformed the region. Something similar is possible in Purandar too.' He added that the proposed airport and cargo facility would bring international connectivity to western Maharashtra and create new opportunities for the farming community through global exports. 'I asked the farmers to tell us what compensation they consider fair. I've requested them to share their expectations and demands within a week,' he said, indicating the possibility of revising the compensation package after reviewing their input. The minister also addressed concerns about disinformation circulating on social media, which he said has contributed to confusion and mistrust among farmers regarding compensation rates. 'We will provide a transparent, fair, and rewarding offer,' he said, adding that the government may even consider amending land acquisition norms if needed. 'Until a consensus is reached the drone-based land surveys in the seven affected villages will remain on hold,' he said.
Time of India
05-05-2025
- Business
- Time of India
Purandar airport: Bawankule urges farmers to end protest, assures 'best possible deal' for land
Maharashtra Revenue Minister Chandrashekhar Bawankule on Monday urged protesting farmers in Pune district to reconsider their opposition to the proposed international airport project at Purandar, assuring them of the "best possible deal". In recent days, the district administration's attempt to conduct a drone survey in some villages in Purandar tehsil was met with stiff resistance from local farmers. One such protest turned violent on May 3, leaving 18 policemen injured and drone cameras destroyed. #Pahalgam Terrorist Attack Inside Operation Tupac: Pakistan's secret project to burn Kashmir Who is Asim Munir, the Zia-style general shaping Pakistan's faith-driven military revival 'Looking for partners, not preachers': India's strong message for EU amid LoC tensions Amid the rising tensions, the authorities have halted drone surveys and land measurement at the site. "I met with some farmers opposing land acquisition for the airport. They expressed their unwillingness to part with their land. I explained to them how the Mihan project in Nagpur was executed successfully with the cooperation of locals," Bawankule told reporters here. GIF89a����!�,D; 5 5 Next Stay Playback speed 1x Normal Back 0.25x 0.5x 1x Normal 1.5x 2x 5 5 / Skip Ads by by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Innovative Jackets for Mountain Adventures [Buy Now] Trek Kit India Learn More Undo He said the proposed airport and cargo hub in Pune district would transform the region and bring global connectivity to western Maharashtra. "This will benefit farmers through international exports. The state government is committed to creating a world-class airport in Pune. It's a policy decision that will not be reversed," he asserted. Live Events While some farmers remained firm in their refusal to give up land, Bawankule urged them to consider alternatives. "I asked them what compensation would be acceptable if land is to be acquired. What are the prevailing rates in the area? I have asked them to submit their demands within a week," he said. The minister also said that the state may propose a new compensation package after deliberations. "The government will try to offer the best possible deal to the farmers, even if it means tweaking existing land acquisition laws," he added. Bawankule said misinformation on social media about compensation rates has created confusion among farmers. "The government's offer will be fair and beneficial, and I believe it will convince the farmers to support the (airport) work," he said. He reiterated the government's willingness to engage in dialogue. "We are open to all suggestions. Let's sit across the table, resolve this deadlock, and open the doors of development in the region," he told the farmers. Bawankule said till the time the deadlock is resolved, the drone survey of seven villages for the proposed airport will remain suspended. "I told them that as the revenue and acquisition minister, I'm ready to do the mediation," said the BJP leader.
