Tag: MIDC

InfrastructureLatest Stories

Maharashtra Cabinet Approves ₹6,000 Crore Loan for Purandar Airport

Representative AI image PUNE: On Tuesday, the state government approved a proposal to raise ₹6,000 crore for land acquisition related to the Purandar airport project. Principal Secretary of Industries, P. Anbalagan, informed TOI that the state cabinet has, in principle, approved the funding for the airport. A special purpose vehicle (SPV), already in place, involves CIDCO holding a 51% stake, with MIDC and PMRDA each holding 15%, and MADC holding 19%. The SPV was established earlier to facilitate the greenfield airport project. Anbalagan stated, “It has been decided to raise approximately ₹6,000 crore for acquiring land for the greenfield airport.…

InfrastructureLatest Stories

MIDC to Allocate ₹6,000 Cr for Purandar Airport Land Purchase

Representative Image PUNE: The Maharashtra Industrial Development Corporation (MIDC) is set to allocate approximately Rs 6,000 crore for land acquisition related to the proposed Purandar airport, according to state government sources reported by TOI on Saturday. The Pune district administration has submitted the proposal, which is currently undergoing final approval stages. An official mentioned, “The clearance is imminent, and we expect to release around Rs 6,000 crore for land acquisition.” Based on a notification from March 17, 2025, under the Land Acquisition Act, farmers are being offered compensation of Rs 1 crore per acre, with double compensation for on-site assets…