SHIMLA- 15 January, 2020.The Memorandum of Understanding for development of Greenfield airport at Nagchala in Mandi district Himachal Pradesh was signed between the Government of HP and Airports Authority of India (AAI) at New Delhi today. Director Tourism and Civil Aviation Yunus on behalf of Government of HP and H. S. Balhara Executive Director Planning signed the agreement on behalf of AAI in the presence of Chairman AAI Arvind Singh.

The development of Greenfield airport at Nagchala will be through a Joint Venture Company (JVC) wherein AAI will hold 51 percent equity and the remaining 49 percent will be held by State government or its designated agency.

The JVC shall undertake the functions of design, finance, construction, completion of the airport project for commercial civil aviation operation and maintenance, operation and management of the airport. The State Government shall acquire and transfer land for airport to the JVC for the project.

Deputy Resident Commissioner of H P Government Vivek Mahajan was also present on the occasion.