|Maharashtra Airport Development Company Limited (MADC), constituted in the year 2002 by the Government of Maharashtra (GoM) as a Special Purpose Company. MADC was jointly formed with equity participation from City and Industrial Development Corporation Ltd. (CIDCO), Nagpur Improvement Trust (NIT), Maharashtra Industrial Development Corporation (MIDC), Maharashtra State Road Development Corporation Ltd. (MSRDC) and later Nagpur Municipal Corporation to join in equity.
MADC has been formed to play a lead role in the planning and implementation of the Multi-modal International Hub Airport at Nagpur (MIHAN) project, keeping in mind the key objectives. The Government of Maharashtra has taken the initiative of setting up a world class Multi-modal International Hub Airport at Nagpur. MADC would also take up development of other Airports in Maharashtra not belonging to the Airports Authority of India (AAI) and Indian Air Force (IAF) which will provide air connectivity between various important district Head Quarters and the Capital of the State
Integrated with the development of MIHAN, the master plan of the project consist of a Special Economic Zone comprising of an Information Technology City, Health City, a Captive Power Plant and other Manufacturing and Value Added units.
The project will be supported with world-class infrastructure to make it an ideal place for international operations.
MADC's Capital Standing:
AUTHORISED CAPITAL : Rs. 400 Million (US $ 9 Million)
SUBSCRIBED CAPITAL : Rs. 150.5 Million (US $ 3.4 Million)
FUNDS PROVIDED BY
GOVT. OF MAHARASHTRA : Rs.1000 Million
Banks which have Sanctioned Term Loan for the MIHAN Project :
Vijaya Bank (Lead Bank) : Rs. 1000 Million
Punjab National Bank : Rs. 700 Million
Bank of Maharashtra : Rs. 400 Million
Bank of India : Rs. 450 Million
Oriental Bank of Commerce : Rs. 450 Million
TOTAL : Rs. 3000 Million
Maharashtra Airport Development Co. Ltd. has a capital of Rs. 4000 Million