The Punjab cabinet has given its nod to international civil terminal for residents of Ludhiana at Halwara Indian Air Force (IAF) station.
The Cabinet has given approval for signing of Memorandum of Understanding (MoU) between the Airports Authority of India (AAI) and the Punjab government.
According to Ludhiana MP Ravneet Singh Bittu, the civil terminal would be developed jointly by AAI and government of Punjab through a Joint Venture Company (JVC) which will be constituted for the purpose. While AAI would have majority stake of 51%, the government of Punjab through Greater Ludhiana Development Authority (GLADA), will have 49% stake in the project.
The state government would provide 135. 54 acres of land free of cost to the JVC by way of its equity in the project. The capital expenditure on development of the new airport would be borne by AAI, while the expenditure on the operation, maintenance and repairs would be taken care of by the JVC.
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