India, May 13 -- The Union Cabinet chaired by the Prime Minister Shri Narendra Modi today has approved the Extension of Lease Period of the Airports Authority of India (AAI)'s land leased to MIL (MIHAN India Limited) beyond 06.08.2039, so as to enable MIL to license Nagpur Airport to the Concessionaire, viz. GMR Nagpur International Airport Limited (GNIAL) for 30 years since Commercial Operation Date (COD).This marks a major milestone in Nagpur airport's journey to becoming a regional aviation hub under the Multi-modal International Cargo Hub and Airport at Nagpur (MIHAN) project.In 2009, a Joint Venture Company (JVC)- MIL was formed by AAI and Maharashtra Airport Development Company Ltd. (MADC) with equity structure of 49:51 respectively. ...