Centre Sets Conditions for Parandur Airport Nod

31 May 2025 CW Team

The Centre has granted in-principle approval for the Rs 200 billion greenfield airport at Parandur, near Chennai, with key conditions attached, according to meeting records. One major clause states that the Tamil Nadu government must compensate the Airports Authority of India (AAI) if the Parandur airport begins operations before Chennai airport reaches 35 million passengers annually. However, if this target is met first, no compensation will be required.

The Steering Committee meeting held on March 12 also revealed that AAI has requested 90 acres for a cargo complex at Chennai airport and rights to construct a new terminal. The land currently houses a school and a colony. The State has agreed to the compensation condition and has formed a high-level committee to assess flood risks at the Parandur site, given the presence of water bodies in the area.

This development marks a significant step in Tamil Nadu鈥檚 aviation infrastructure but underscores the Centre鈥檚 cautious approach, ensuring the full capacity of the existing Chennai facility is first utilised.

Source
Businessline

Infrastructure Urban

13 Jun 2025

Reliance, Diehl Advance Pact for Precision-Guided Munitions

Diehl Defence CEO Helmut Rauch and Reliance Group鈥檚 Founder Chairman Anil D. Ambani have held discussions to advance their ongoing strategic partnership focused on Guided and Terminally Guided Munitions (TGM), under a cooperation agreement originally signed in 2019.This collaboration underscores Diehl Defence鈥檚 long-term commitment to the Indian market and its support for the Indian Government鈥檚 Make in India initiative. The partnership鈥檚 current emphasis is on the urgent supply of the Vulcano 155mm Precision Guided Munition system to the Indian Armed Forces.Simultaneously, the 鈥淰ulc..

Infrastructure Urban

13 Jun 2025

Modis Navnirman to Migrate to Main Board, Merge Subsidiary

Modis Navnirman Limited has announced that its Board of Directors has approved a key strategic initiative involving migration from the BSE SME platform to the Main Board of both BSE and NSE, alongside a merger with its wholly owned subsidiary, Shree Modis Navnirman Private Limited.The move to the main boards marks a major milestone in the company鈥檚 growth trajectory, reflecting its consistent financial performance, robust corporate governance, and long-term commitment to value creation. This transition will grant the company access to a broader investor base, improve market participation, en..

Infrastructure Urban

13 Jun 2025

Global Capital Flows Remain Subdued, EMEA Leads in Q1 2025

The Bharat InvITs Association鈥檚 industry update for Q1 2025 shows subdued global capital flows, with investment volumes remaining at the lower end of the five-year range despite a late 2024 recovery. According to data from Colliers and MSCI Real Capital Analytics, activity in North America declined slightly, while EMEA maintained steady levels and emerged as the top region for investment in standing assets.The EMEA region now hosts seven of the top ten cross-border capital destinations for standing assets, pushing the United States鈥� share of global activity below 15 per cent. Meanwhile, in..