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Maharashtra cabinet approves transfer of MIAL to Adani

Maharashtra cabinet approves transfer of MIAL to Adani

The Maharashtra cabinet on Wednesday approved the transfer of the ownership of Mumbai International Airport Limited (MIAL), constructing the Navi Mumbai international airport, to the Adani Airport Holdings Ltd from GVK Airports Developers Ltd. GVK previously held 50.5 per cent share of MIAL. The change in ownership has been approved by the Central government, SEBI, CIDCO board of directors and others.

Land acquisition for the greenfield international airport spanning across 1,160 hectares stands complete, the Chief Minister's office confirmed. The first phase of the airport is expected to be completed by 2023-24, they added. The cabinet also approved the first phase of the Marathwada water grid project worth Rs 285 crores from the Jayakwadi dam in Paithan taluka of Aurangabad.

"A proposal for adding the rest of the talukas in the Aurangabad district and in the Marathwada region will be submitted as per the availability of water and finances. The State Water Resources Department is also studying about diverting water from west-flowing rivers into the Godavari Valley," it said.

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TAGS:Mumbai Airports Adani Group 
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