Modernization Operation and Maintenance of Dr. Babasaheb Ambedkar International Airport, Nagpur through PPP basis
Nagpur, one of the busiest cities and also known as the second capital of Maharashtra, is in the central part of India. This city has a strategic place among the international aviation routes. Even though Dr. Babasaheb Ambedkar International Airport has been operational at Nagpur for many years now, it has never been of such importance, this is possibly due to the economic activity of the region that has not been highly urbanized to make possible the development of a major airport.
Nagpur’s sole location at the crossing of the air route between South-East Asia and Europe, as well as between North-East Asia and South Africa makes it a rational and ideal location for cargo and passenger hub. The details that the trunk north-south and east-west highways and railways also are crossing at Nagpur make it clear to explore the multi-modal opinion. This outlook will ensure trans-shipping of cargo and passengers between different modes of transport - road to rail, rail to road, surface to air, etc. Their integration with International Passenger and Cargo Airport services would make it very valuable and cost effective for advancement of air transportation.
Keeping all these aside, Nagpur Airport has a separate advantage of being nearby to a large multi - product SEZ like the case of Singapore and Dubai hub airports. Given this background, the basic purpose is to establish a Multi-modal International Hub Airport at Nagpur by taking benefit of the already obtainable infrastructure. Even in aspects of regional condition, though Nagpur City and the vicinity of the Vidarbha Region have not urbanized well so far, the initiatives taken by the new government are on the smithy for further rapid development. With this background Maharashtra Government has taken the plan through Maharashtra Airport Development Company Limited (MADC), to develop a top-notch Multi-modal International Hub Airport at Nagpur (MIHAN) to provide to the needs of passengers and cargo. In order to expand the airport, MADC has formed a 51%: 49% joint venture company (JVC) MIHAN India Limited (MIL) with Airport Authority of India (AAI).
The airport in Nagpur will be the first airport owned by the state would be handed to a private player for operation and construction. They have given five small airports which are owned by Maharashtra Industrial Development Corporation for their operation to the industry giant.
Reliance Airports. This would enable the private players to bring in their knowledge, complete the project in predetermined period and make essential modifications whenever needed. Suresh Kakani, vice-chairman and managing director of MADC, said the project is apparently to be concluded in four years after the award of the bid. They have completed the process of Request for Quotation with good retort from the bidders.
Nagpur is a favored destination not only for the IT industry and other mechanized industry. There have been substantial improvements in the urban road and rail network of the city in the past decade, which is reflected in the rising attractiveness of the city for investments. It has become an important commercial & institutional hub, which houses regional offices of Companies offering to several States. It has also become an important investment destination for multinational and Indian Companies. Nagpur usually has a dry tropical weather, and has always enjoyed the position of capital city of State of Maharashtra. Nagpur has been named as the administrative centre of Central India throughout the ancient and medieval eras. It carries a inheritance of cultural and economic wealth. Being an important administration center with beneficial geographical location, Nagpur’s economic growth has been inhibited by the limited development of the vicinity of central India.
However, with technological developments and overall expansion of the central neighborhood, the scenario is set to change. Its nearness to tribal areas has also ensured the safeguarding of its natural resources, i.e., minerals and forests. In the modern age, though Nagpur has lost its politically chief position, natural aspects of geography, climate & location continue to position it auspiciously for prospering as an economic hub.
Up to 15% Returns on Investment
Fixed return investments fully backed by properties.
*15% p.a. paid at the end of the term on capital gain option*
Submit your email address and a member of our team will contact you shortly. Usual response time is 1-2 hours.
For a company that mainly offers investments into real estate and that has only yesterday launched a new product: ETA Rental Guarantee; and with thousands of properties in Pattaya, this might sound a bit suicidal as the current Occupancy rate is Pattaya has dropped...
If you are one of the thousands of property owners that have been patiently or possibly more realistically, frustratingly, trying to find a buyer willing to pay anywhere near the amount you originally paid for your property then you are not going to like what’s coming...
James Murdoch , younger son of media mogul Rupert Murdoch , has set up the first office outside the US for his new investment firm, Lupa Systems, in Mumbai. It will be led by his former associate Nitin Kukreja, who said, “James has always been bullish on India. It’s a...
UP TO 15% PER YEAR FIXED RETURN
3 year investment plan, ideal for first-time investors.
Flexible Payment Options
Option to receive interest payments monthly or quarterly.