Centre Sets Conditions for Parandur Airport Nod
AVIATION & AIRPORTS

Centre Sets Conditions for Parandur Airport Nod

The Centre has granted in-principle approval for the Rs 200 billion greenfield airport at Parandur, near Chennai, with key conditions attached, according to meeting records. One major clause states that the Tamil Nadu government must compensate the Airports Authority of India (AAI) if the Parandur airport begins operations before Chennai airport reaches 35 million passengers annually. However, if this target is met first, no compensation will be required.

The Steering Committee meeting held on March 12 also revealed that AAI has requested 90 acres for a cargo complex at Chennai airport and rights to construct a new terminal. The land currently houses a school and a colony. The State has agreed to the compensation condition and has formed a high-level committee to assess flood risks at the Parandur site, given the presence of water bodies in the area.

This development marks a significant step in Tamil Nadu’s aviation infrastructure but underscores the Centre’s cautious approach, ensuring the full capacity of the existing Chennai facility is first utilised.

Source
Businessline

"Join industry leaders at RAHSTA Expo, India's premier platform for roads, highways and traffic infrastructure. Register now to explore innovations, network with experts and shape the future of mobility."

The Centre has granted in-principle approval for the Rs 200 billion greenfield airport at Parandur, near Chennai, with key conditions attached, according to meeting records. One major clause states that the Tamil Nadu government must compensate the Airports Authority of India (AAI) if the Parandur airport begins operations before Chennai airport reaches 35 million passengers annually. However, if this target is met first, no compensation will be required. The Steering Committee meeting held on March 12 also revealed that AAI has requested 90 acres for a cargo complex at Chennai airport and rights to construct a new terminal. The land currently houses a school and a colony. The State has agreed to the compensation condition and has formed a high-level committee to assess flood risks at the Parandur site, given the presence of water bodies in the area. This development marks a significant step in Tamil Nadu’s aviation infrastructure but underscores the Centre’s cautious approach, ensuring the full capacity of the existing Chennai facility is first utilised. Source Businessline

Next Story
Real Estate

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

Next Story
Real Estate

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

Next Story
Infrastructure Urban

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement