The Maharashtra government has decided to take back five airports from Reliance Airport Development Private Limited (RADPL), the firm belongs to Anil Ambani’s Reliance Group on account of failing to make any progress in their development and expansion.
Maharashtra Finance Minister Sudhir Mungantiwar said, “I have asked the officials of Maharashtra Industrial Development Corporation to take the possession of these lands. Negotiations in this regard will begin soon,” these five airports have occupied 601 hectares of total land.
He further said that “the project did not move an inch even six years after the contract was awarded. We have undertaken another project in which we plan to launch commercial services from 21 airports. So, we need these airports back.”
Read important advice on share market India