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The Maharashtra Industrial Development Corporation (MIDC) is moving forward with the Purandar airport project by seeking financial support from banking consortiums and private institutions instead of state funds. The estimated cost of acquiring 2,832 hectares of land across seven villages ranges between INR 6,000-8,000 crore. With the Maharashtra government focused on welfare schemes, MIDC aims to avoid burdening the state exchequer. The land acquisition notification is expected by February, with the airport slated for completion by March 2029. Officials anticipate significant economic growth and job creation, positioning Pune as a key aviation and business hub in the region.
The proposed Purandar airport project is moving forward, but the Maharashtra Industrial Development Corporation (MIDC) is taking a different approach to funding. Instead of relying on state funds, MIDC officials have indicated they will seek financial support from banking consortiums and private financial institutions. This shift comes as the state government is already committed to various welfare schemes, including the Ladki Bahin Yojana. Advertisement
The cost of acquiring the necessary land for the airport, which spans 2,832 hectares across seven villages, is estimated between INR 6,000 crore and INR 8,000 crore. MIDC officials stated that their goal is to avoid placing any additional financial burden on the state exchequer. The final decision on funding sources will be made soon.
The Maharashtra government has appointed MIDC as the nodal agency for the airport project, with Chief Minister Devendra Fadnavis emphasising the importance of timely progress. MIDC is expected to issue a notification for land acquisition by the end of February. District administration officials, who will assist with the process, are awaiting further instructions from MIDC. They noted that the land acquisition will proceed according to the MIDC Act provisions.
Union Minister of State for Civil Aviation Muralidhar Mohol highlighted the rapid development of Pune and its surrounding areas. He noted that while Pune's current airport is equipped with modern amenities, the increasing number of air passengers necessitates the construction of the new airport. The government aims to have the Purandar airport operational by March 2029, which is seen as a critical step in accommodating future air traffic and supporting regional growth.
In addition to the airport's potential to enhance connectivity, local officials believe it could spur economic development in the region. The airport is expected to create jobs and attract businesses, contributing to the overall growth of Pune. As the project progresses, stakeholders are optimistic about its impact on the local economy and infrastructure.
The move to seek alternative funding sources reflects a broader trend in infrastructure development in India, where public-private partnerships are becoming increasingly common. By engaging with private financial institutions, the MIDC aims to leverage additional resources while minimizing the financial strain on the state government.
As preparations for the Purandar airport continue, the focus will be on ensuring that the project meets the needs of the growing population and economy of Pune. The successful completion of this project could mark a significant milestone in the region's development and enhance its status as a key hub in Maharashtra.
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