Maharashtra Airport Development Company information
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Maharashtra Airport Development Company
Company type
Special-purpose company
Industry
Airport Development
Founded
2002
Founder
Government of Maharashtra
Headquarters
Mumbai
,
India
Key people
Swathi Pandey MD
Owner
State Government of Maharashtra
Website
madcindia.org
Maharashtra Airport Development Company Limited abbreviated as (MADC), is a Special Purpose Company constituted in 2002 by the Government of Maharashtra (GoM) to plan, construct, operate and maintain airports in the State. The government has entrusted MADC the task of developing three `greenfield' and six `brownfield' airports, and a heliport at Gadchiroli.[1]
MADC was also to play a lead role in the planning and implementation of the Multi-modal International Cargo Hub and Airport at Nagpur (MIHAN) project,[2]
In April 2017, a report by the Comptroller and Auditor General of India (CAG) criticised the MADC for not developing a single airport in the state due to absence of a long-term plan, despite 14 years of its existence. The report also stated that Grants given by the state government for development of airports were lying unused, thus "blocking up" the public money.[1]
Keeping in mind all the key objectives, MADC was 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 the Nagpur Municipal Corporation (NMC). The master plan of MIHAN consists of a Special Economic Zone[3] comprising an Information Technology City, a Health City, a Captive Power Plant and other Manufacturing and Value Added units.
^ ab"MADC could not develop any airport in Maha in 14 years: CAG". Outlook. 7 April 2017. Retrieved 17 May 2020.
^About MADC Archived 15 February 2012 at the Wayback Machine
^SEZ-THE GAZETTE OF INDIA
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