Maharashtra Airport Development Company Ltd.
Multi-modal International Cargo Hub and Airport at Nagpur is an airport project for Dr. Babasaheb Ambedkar International Airport, Nagpur. It is the biggest economc development project currently underway in India in terms of investments. The project aims to exploit the central location of Nagpur and convert the present airport into a major cargo hub with integrated road and rail connectivity.
This Project consists of “Two Parts”:
- An International airport to act as a cargo hub
- A Special Economic Zone (SEZ) with residential zone covering a total area of 40.25 km² on the southern end of Nagpur.
Nagpur is currently witnessing an economic boom as the “Multi-modal International Cargo Hub and Airport at Nagpur (MIHAN)” is under development. MIHAN will be used for handling heavy cargo coming from south east Asia and the Middle East. The project will include 10,000 crore (US$1.82 billion) Special Economic Zone (SEZ) for Information Technology (IT) companies.
Maharashtra Airport Development Company Ltd. is Special Purpose Company constituted by the Govt. of Maharashtra for implementing this project and also to develop the various other airports, (not belonging to Airports Authority of India (AAI) and Indian Air Force (IAF)) in the state of Maharashtra to provide air connectivity between the various important District Head Quarters and the capital of the State. The project is financed by multiple Indian banks with total loan amount of INR 3,000 million along with investment from state government and Airports Authority of India. With a projected target of serving 14 million passengers and handle 0.87 million tones of cargo this is one of largest aviation project in India.The estimated capital cost of the project is INR 2581 crores (by year 2035) and is supposed to generate revenues INR 5280 crores.