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MIHAN - Multi-modal International Cargo Hub and Airport at Nagpur is the biggest economical development project currently underway in India in terms of investment It is an Ideal business hub, located in the geometrical centre of India and easily accessible to all the metro cities of India.
MIHAN Project consists of two parts namely :
1.International airport to act as a cargo hub
2.Special Economic Zone with residential zone covering a total area of 40.25 on the southern end of Nagpur.
Maharashtra Government formed a special purpose entity in the name of Maharashtra Airport Development Company (MADC) for development of MIHAN. 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 and expected to generate 5280 crores of revenue.
Though not yet gathered its required pace, this project has already given a big boom to the property prices increasing them by 25-40%. 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.
The International Airport :
The existing airport will be expanded in terms of widening and extending the present runway to meet international standards with a provision of another runway in the future.The airport will have parking space for 50 aircraft at any time with 50 additional bays at fringe areas. Project is also building a separate cargo complex for handling and transferring cargo to-and-fro from airport.
Special Economic Zone (SEZ) :
The largest multi-product SEZ in India, would be built alongside the airport. Like all SEZs it will have financial incentives and soft taxation policy to attract investment.The initial set-up material for these units and later raw material will be duty-free.
The major sections of SEZ would be
1. Information Technology park spread over 500 hectares and would include all necessary infrastructure for IT companies.
2. Health city spread over 40 hectares that will have multispecialty hospitals along with training institutes for nurses and medical technicians.
Singapore Changi Airport has been selected as the consultants for the project.Central Facility Building will have administrative offices of various government departments working for MIHAN project and main office of Development Commissioner of MIHAN.
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