Cabinet Approves Modernisation Of Nagpur International Airport

15 May 2026 CW Team

The decision was presented as a major milestone for the Multi-modal International Cargo Hub and Airport at Nagpur (MIHAN) project. In 2009 a joint venture company, MIHAN India Limited (MIL), was formed by the Airports Authority of India (AAI) and Maharashtra Airport Development Company (MADC) with an equity split of 49:51.

Airport assets were transferred to MIL in 2009 but the formal lease deed was delayed owing to land demarcation, and the arrangement had been limited to 06.08.2039. The extension removes that constraint and aligns the land tenure with the concession timeline.

In 2016 MIL issued a global tender to identify a private partner and GMR Airports Limited (GAL) emerged as highest bidder, with a quoted revenue share later revised to 14.49 per cent of gross revenue. MIL annulled the process in March 2020; GAL challenged the annulment, and the courts ruled in its favour, leading to a concession agreement with GNIAL on eight October, 2024 following the Supreme Court judgement dated 27 September, 2024.

With the lease extension made co-terminus with the 30 year concession period, handing over to the concessionaire can proceed, enabling a phased transformation of Dr. Babasaheb Ambedkar International Airport into a world class facility. The development plan envisages reaching an ultimate handling capacity of 30 mn passengers annually and significant enhancement of cargo handling capabilities. The project is expected to strengthen regional connectivity across Vidarbha and support broader economic infrastructure objectives.

Private sector efficiency combined with government oversight is intended to attract investment and modernisation, improving both passenger and cargo services. The measure aligns with the Government of India's stated strategy to expand robust aviation infrastructure.

The Union Cabinet chaired by the Prime Minister approved extending the lease of land held by the Airports Authority of India (AAI) to MIHAN India Limited (MIL) beyond 06.08.2039, enabling MIL to license Nagpur International Airport to GMR Nagpur International Airport Limited (GNIAL) for 30 years from the commercial operation date. The decision was presented as a major milestone for the Multi-modal International Cargo Hub and Airport at Nagpur (MIHAN) project. In 2009 a joint venture company, MIHAN India Limited (MIL), was formed by the Airports Authority of India (AAI) and Maharashtra Airport Development Company (MADC) with an equity split of 49:51. Airport assets were transferred to MIL in 2009 but the formal lease deed was delayed owing to land demarcation, and the arrangement had been limited to 06.08.2039. The extension removes that constraint and aligns the land tenure with the concession timeline. In 2016 MIL issued a global tender to identify a private partner and GMR Airports Limited (GAL) emerged as highest bidder, with a quoted revenue share later revised to 14.49 per cent of gross revenue. MIL annulled the process in March 2020; GAL challenged the annulment, and the courts ruled in its favour, leading to a concession agreement with GNIAL on eight October, 2024 following the Supreme Court judgement dated 27 September, 2024. With the lease extension made co-terminus with the 30 year concession period, handing over to the concessionaire can proceed, enabling a phased transformation of Dr. Babasaheb Ambedkar International Airport into a world class facility. The development plan envisages reaching an ultimate handling capacity of 30 mn passengers annually and significant enhancement of cargo handling capabilities. The project is expected to strengthen regional connectivity across Vidarbha and support broader economic infrastructure objectives. Private sector efficiency combined with government oversight is intended to attract investment and modernisation, improving both passenger and cargo services. The measure aligns with the Government of India's stated strategy to expand robust aviation infrastructure.

Real Estate

14 Jul 2026

Paradigm Realty secures Rs 1 billion for Chembur project

Paradigm Realty Group has secured Rs 1 billion in funding from Arnya RealEstates Fund for its flagship residential project, 71 Midtown, in Chembur, Mumbai.The institutional investment will be used to support the completion of Phases 1 and 2 of the development, with the financing aligned to the project's construction and delivery schedule.Spread across approximately 4.5 acres, the gated residential community comprises one- and two-bedroom apartments. Located near Sindhi Society in Chembur, the project offers connectivity to the Bandra Kurla Complex (BKC) and is expected to benefit from infrastr..

Real Estate

14 Jul 2026

PCPL delivers 1.4 million sq ft, eyes 2.1 million sq ft pipeline

Pranav Constructions (PCPL) has delivered more than 1.4 million sq ft of redeveloped residential space across Mumbai as of March 2026, while outlining a future pipeline exceeding 2.1 million sq ft across key redevelopment markets.Over the past decade, the Mumbai-based developer has completed 28 redevelopment projects, benefiting more than 2,450 families across the city's western suburbs, including Borivali, Kandivali, Malad and Goregaon. Since 2023, the company has expanded into neighbourhoods such as Santacruz, Bandra, Andheri and Vile Parle, while also entering heritage precincts including M..

Products

14 Jul 2026

Shalimar Paints launches premium Xtra Tough Hi-Sheen

Shalimar Paints has expanded its premium product portfolio with the launch of Xtra Tough Hi-Sheen, a new exterior emulsion developed to provide enhanced weather protection and a high-sheen finish for residential buildings.The company said the product is designed to address growing consumer demand for exterior coatings that combine aesthetics with long-term durability. Suitable for both new construction and renovation projects, the emulsion is formulated to withstand varied climatic conditions, including heat, rain, humidity and pollution.Xtra Tough Hi-Sheen features a dust-repellent coating in..