Multi-modal International Cargo Hub and Airport at Nagpur
(MIHAN) is an airport project for Dr. Babasaheb Ambedkar International Airport, Nagpur. It is the biggest economical development project currently underway in India
in terms of investments. The project aims to exploit the central location of Nagpur and convert the present airport into a major cargo hub with integrated road and rail connectivity.
The Government of Maharashtra
formed a special purpose entity in the name of Maharashtra Airport Development Company (MADC) for development of MIHAN. The project is financed by multiple Indian banks with total loan amount of INR 3,000 million along with investment from state government and Airports Authority of India. With a projected target of serving 14 million passengers and handle 0.87 million tones of cargo this is one of largest aviation project in India. The estimated capital cost of the project is INR 2581 crores (by year 2035) and is supposed to generate revenues INR 5280 crores.
The project has already spurred a real estate boom in Nagpur with property prices increasing 25 to 40 percent. Project is expected to add 12 million people to city’s population by means of direct and indirect employment. The project aims at boosting the economy of under developed Vidarbha
region of Maharashtra and stop the brain drain to other parts of Maharashtra and India. From environmental perspective half a million trees would be planted and there would be no polluting industries in MIHAN.
For growth of any area presence of core industries is a must and Nagpur has MIDC area, Asia
's second largest air maintenance workshop, SEZ, Gitanjali Jewellery Park, Food Park and many more other projects under implementation with IT majors presence and logistics businesses. The Maharashtra government has already taken care of infrastructure availability like roads, water, power etc. Also to meet the manpower demand, Nagpur University has given sanction to 43 new Engineering colleges in and around Nagpur only. Singapore Changi Airport has been selected as the consultant for this project.