Consortium for Purandar Airport project approved. Here's more!
AVIATION & AIRPORTS

Consortium for Purandar Airport project approved. Here's more!

In order to expedite the Purandar Airport project, Maharashtra Chief Minister Devendra Fadnavis has approved a consortium comprising four local authorities to form a special purpose vehicle (SPV). 

The government consortium for investment of seed capital for the proposed airport project will reportedly be formed by the Pune Metropolitan Region Development Authority (PMRDA), along with Mumbai Metropolitan Region Development Authority (MMRDA), City and Industrial Development Corporation of Maharashtra (CIDCO) and the Maharashtra Airport Development Company.

As reported, local authorities are expected to pitch in with 25 per cent investment and would have an equity participation in the project. The SPV is expected to speed up the project, while the local bodies through their various schemes can help invest in the project. The rights for development will be given to the PMRDA and is expected to help in the overall development of the project. Investment for the project is expected to come through various town planning schemes and other means of land monetisation.

Last year, during the ground-breaking ceremony of the Mhalunge-Mann Hi-tech city in Pune, Fadnavis had announced a consortium as well as formation of an airport city around the proposed Chhatrapati Sambhaji Raje International airport at Purandar. Besides, the state government is in plans to develop the airport city to ensure proper planning for Purandar airport and surrounding areas.

In order to expedite the Purandar Airport project, Maharashtra Chief Minister Devendra Fadnavis has approved a consortium comprising four local authorities to form a special purpose vehicle (SPV).  The government consortium for investment of seed capital for the proposed airport project will reportedly be formed by the Pune Metropolitan Region Development Authority (PMRDA), along with Mumbai Metropolitan Region Development Authority (MMRDA), City and Industrial Development Corporation of Maharashtra (CIDCO) and the Maharashtra Airport Development Company. As reported, local authorities are expected to pitch in with 25 per cent investment and would have an equity participation in the project. The SPV is expected to speed up the project, while the local bodies through their various schemes can help invest in the project. The rights for development will be given to the PMRDA and is expected to help in the overall development of the project. Investment for the project is expected to come through various town planning schemes and other means of land monetisation. Last year, during the ground-breaking ceremony of the Mhalunge-Mann Hi-tech city in Pune, Fadnavis had announced a consortium as well as formation of an airport city around the proposed Chhatrapati Sambhaji Raje International airport at Purandar. Besides, the state government is in plans to develop the airport city to ensure proper planning for Purandar airport and surrounding areas.

Related Stories

Gold Stories

Next Story
Infrastructure Energy

Asian Energy Services Q1 FY27 PAT Rises 129 Per Cent

Asian Energy Services Limited reported a 129 per cent year-on-year rise in net profit to Rs 128 million for Q1 FY27, compared with the corresponding quarter last year.Revenue increased 135 per cent year-on-year to Rs 2.71 billion, supported by continued momentum across its services business, disciplined execution and contributions from domestic and international operations. EBITDA grew 81 per cent year-on-year during the quarter.As of June 30, 2026, the company’s standalone order book stood at Rs 17.54 billion, with around 60 per cent coming from oil and gas services and 40 per cent from min..

Next Story
Infrastructure Urban

BioBTX to Build First Commercial-Scale Circular Chemicals Plant

Dutch circular chemistry technology developer BioBTX is building what it says will be the world’s first commercial-scale plant to convert mixed plastic waste into high-quality aromatic chemicals using its proprietary Integrated Catalytic Cracking Process (ICCP) technology.The facility will be built at Chemical Park Delfzijl on the northern coast of the Netherlands and is expected to create 35 jobs. Covestro, which has been a shareholder and strategic partner of BioBTX since 2024, holds a mid-single-digit million-euro investment in the company.BioBTX’s ICCP technology uses catalytic pyrolys..

Next Story
Real Estate

Awfis Q1 FY27 PAT Jumps 140% as Revenue Rises 27%

Awfis Space Solutions reported a 140 per cent year-on-year rise in consolidated profit after tax (PAT) to Rs 240 million for Q1 FY27, compared with Rs 100 million in the corresponding quarter last year.Revenue from operations increased 27 per cent to Rs 4.25 billion from Rs 3.35 billion, while EBITDA rose 28 per cent to Rs 1.62 billion. EBITDA margin improved to 38.2 per cent from 37.8 per cent. Profit before tax increased 135 per cent to Rs 240 million.The company's co-working business recorded 27 per cent year-on-year growth, supported by demand from enterprises, Global Capability Centres (G..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement