Maharashtra Airport Development Company Limited (MADC) was constituted in the year 2002 by the Government of Maharashtra (GoM) as a Special Purpose Company. MADC was jointly 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 Nagpur Municipal Corporation has joined in equity participation. MADC has been formed to play a lead role in the planning and implementation of the Multi-modal International Hub Airport at Nagpur (MIHANTM) project, keeping in mind the key objectives. The Government of Maharashtra has taken the initiative of setting up a world class Multi-modal International Hub Airport at Nagpur. MADC would also take up development of other Airports in Maharashtra not belonging to the Airports Authority of India (AAI) and Indian Air Force (IAF) which will provide air connectivity between various important district Head Quarters and the Capital of the State Integrated with the development of MIHANTM, the master plan of the project consists of a Special Economic Zone (SEZ) comprising of an Information Technology City, Health City, a Captive Power Plant and other Manufacturing and Value Added units. The project will be supported with world-class infrastructure to make it an ideal place for investment and international operations. MADC's Capital Standing: AUTHORISED CAPITAL : Rs. 400 Million (US $ 9 Million) SUBSCRIBED CAPITAL : Rs. 150.5 Million (US $ 3.4 Million) FUNDS PROVIDED BY GOVT. OF MAHARASHTRA : Rs.1000 Million TOTAL : Rs. 3000 Million Maharashtra Airport Development Co. Ltd. has a capital of Rs. 4000 Million