JVC for MIHAN project to be formed in 90 days: Sinha

Nagpur, Jan 17 (UNI) The formalities in connection with the formation of a joint-venture company (JVC), to be formed with equity participation of the Centre and the Maharashtra government for the execution of the ambitious Multi-Modal International Air Passenger and Cargo Hub at Nagpur (MIHAN) is likely to be completed within 90 days.

Speaking to reporters here today, Maharashtra Airports Development Company (MADC) Vice Chairman and Managing Director (VCMD) R C Sinha said the formalities would be completed in 60 to 90 days period. The Nagpur airport is to be handed over to the JVC to be developed as part of the MIHAN project, which also includes a Special Economic Zone (SEZ), he said.

The process of formation of the JVC would get a boost with the Union Cabinet giving its nod today to the proposal to hand over the Nagpur airport, Mr Sinha said. The Centre would hold equity in the proposed JVC through the Airports Authority of India (AAI), while the state government would hold its stake through MADC, he also said.

Mr Sinha said the MADC had already floated an international tender for designing the second airstrip at Nagpur, which would be 60 metres wide and 4,000 metres long. The last date for the tender is January 28, and the tender would be allotted within 15 days after that, he said.

The second airstrip is being constructed to facilitate the landing and take-off of aircraft at the maintenance, repair and overhaul (MRO) hub being set up here by aviation major Boeing Inc.

''The MIHAN project was originally planned to be completed by 2035. However, at the time, the aviation sector was growing at 6 per cent. The sector is now growing at 20 per cent, so we have not advanced the completion date to 2025. However, it is possible that the project would be completed by 2020,'' Mr Sinha said.

The basic infrastructure and facilities at the SEZ would be in place by December 2009, he added.

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