India, May 13 -- The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the extension of the lease period for Airports Authority of India (AAI) land leased to MIHAN India Limited (MIL), enabling the modernisation and upgradation of Nagpur International Airport through a Public-Private Partnership (PPP) model.
The approval will allow MIL to license the airport to GMR Nagpur International Airport Limited (GNIAL) for a concession period of 30 years from the commercial operation date. The move is expected to accelerate the transformation of Nagpur's airport into a major aviation and cargo hub under the Multi-modal International Cargo Hub and Airport at Nagpur (MIHAN) project.
MIL was formed in 2009 as a joint venture between...