Mumbai, Feb 10 (PTI) The Maharashtra cabinet on Tuesday approved raising a loan of Rs 6,000 crore to accelerate 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.
As large-scale land acquisition is now required, funds will be raised through loans from various financial institutions, an official release stated.
In another decision, the cabinet approved raising a loan of Rs 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 Rs 15,000 crore, Rs 8,982.76 crore has been earmarked for completing 57 irrigation projects, while Rs 6,017.24 crore will be utilised to improve canals and distribution systems of 193 projects. PTI MR ARU
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