Govt approves setting up of co to develop Nagpur airport

The Maharashtra Government has approved the setting up of a company for the development of a multi-modal international airport at Nagpur.
A cargo hub and an international standard terminal would also be developed at the airport, the Chief Minister, Mr Vilasrao Deshmukh, said while addressing the media after the Cabinet meeting on Thursday.
The company would have participation from Maharashtra Airport Development Company Ltd (MADC) and Airports Authority of India (AAI). The share of MADC in the new company would be 51 per cent and AAI will hold the rest, Mr Deshmukh said.
The airport would be handed over to the new company for a period of 30 years by charging a nominal rate of Re 1 per year. The Centre would be in charge of airport security and air traffic control, he said.
18/08/06 Business Line/Moneycontrol.com

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