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Chief Minister Devendra Fadnavis announced that the Cabinet has approved the land acquisition for the Purandar airport and directed the administration to complete it by 2026. (Image generated using Google Gemini)
The Maharashtra Cabinet Tuesday approved a loan of Rs 6,000 crore for land acquisition for the upcoming Purandar airport in Pune, which Union Minister of State for Civil Aviation Murlidhar Mohol said will be a “game changer for the IT sector, industry, agricultural exports, tourism and businesses.”
Chief Minister Devendra Fadnavis announced the establishment of a Special Purpose Vehicle to facilitate raising the debt for the Purandar airport.
The funding will be raised through a joint loan from the Maharashtra Airport Development Corporation (MADC), the Maharashtra Industrial Development Corporation (MIDC), and the City Industrial Development Corporation (CIDCO), with guarantees from the state government.
Fadnavis announced that the Cabinet has approved the land acquisition for the Purandar airport and directed the administration to complete it by 2026. Around 1,216 hectares across seven villages need to be acquired for this greenfield airport project.
The SPV was constituted to execute the airport project, with CIDCO holding a 51 per cent stake, followed by PMRDA and MIDC with 15 per cent each, and MADC with a 19 per cent share. The Cabinet also decided that the loan repayment would be the responsibility of the SPV partners in proportion to their respective shareholdings.
Welcoming the development, Mohol said, “The Purandar airport would enhance air connectivity and will be a game changer for the IT sector, industry, agricultural exports, tourism and businesses.”
“After the Navi Mumbai International Airport, Purandar will emerge as a major alternative for Pune and Western Maharashtra, enhancing passenger traffic and cargo handling capacity,” Mohol, who represents Pune in Lok Sabha, added.
“A majority of the farmers have agreed to give up their land for the upcoming airport,” said Fadnavis, while announcing the creation of a new industrial estate in Indapur, involving the transfer of 1,000 acres of land to MIDC.
While speaking to The Indian Express, Jitendra Dudi, Collector, Pune, said, “It is expected that the funds will be received very soon. As soon as we receive it, we will start distributing compensation to the farmers. And we will try to complete the process by the end of May.”
The government’s last offer to farmers was Rs 1 crore per acre, but farmers have demanded a significantly higher rate.
“From the first week of March, we will be starting a financial management drive in collaboration with the Gokhale Institute of Politics and Economics for farmers whose land has been acquired for the Purandar airport and will receive compensation,” Dudi added.