Mumbai, February 10 The Maharashtra cabinet on Tuesday approved a loan of ₹6,000 crore to expedite land acquisition for the proposed Purandar airport in Pune district.
In a meeting presided over by Chief Minister Devendra Fadnavis, the cabinet approved the formation of a Special Purpose Vehicle (SPV) comprising the Maharashtra Industrial Development Corporation (MIDC), the Maharashtra Airport Development Company (MADC), City and Industrial Development Corporation (CIDCO) and other agencies.
According to the government, 96 per cent of farmers in the project area have already given consent for land acquisition for the airport.
Given the need for large-scale land acquisition, funds will be raised through loans from various financial institutions, an official release stated.
In another decision, the cabinet approved a loan of ₹15,000 crore from NABARD for irrigation projects and to improve canals and distribution systems across the state.
These projects will bring around 8 lakh hectares of land under irrigation.
Of the ₹15,000 crore, ₹8,982.76 crore has been allocated for completing 57 irrigation projects, while ₹6,017.24 crore will be used to improve the canals and distribution systems of 193 projects.