Cabinet approves transfer of Mumbai Intl Airport Ltd's ownership to Adani Airport Holdings

The Mumbai International Airport Limited (MIAL) had a change in ownership. GVK Airports Developers Ltd, which had a 50.5 per cent share, has been taken over by Adani Airport Holdings Ltd.

The Maharashtra cabinet on Wednesday approved a proposal transferring the ownership of the Mumbai International Airport Limited (MIAL) constructing the Navi Mumbai international airport to the Adani Airport Holdings. A statement issued by the Chief Minister's Office (CMO) said the land acquisition for the greenfield international airport, which will come up on 1,160 hectares, stood complete.

The first phase of the airport is expected to be completed in 2023-24, it said. The Mumbai International Airport Limited (MIAL) had a change in ownership. GVK Airports Developers Ltd, which had a 50.5 per cent share, has been taken over by Adani Airport Holdings Ltd, it said.

Also Read: Navi Mumbai: Agitation over naming of airport, traffic diversion announced

The change in ownership has been approved by the Central government, SEBI and others. The CIDCO board of directors had passed a resolution approving the same, it said. In another decision, the cabinet approved the first phase of the Marathwada water grid project worth Rs 285 crore which will start from the Jayakwadi dam in Paithan taluka of Aurangabad district.

"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.

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever

"Exciting news! Mid-day is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest news!" Click here!