The Maharashtra cabinet on Wednesday approved a proposal transferring the ownership of the Mumbai International Airport Limited (MIAL) constructing the Navi Mumbai international airport to the Adani Airport Holdings.

A statement issued by the Chief Minister’s Office (CMO) said the land acquisition for the greenfield international airport, which will come up on 1,160 hectares, stood complete. The first phase of the airport is expected to be completed in 2023-24, it said.

The Mumbai International Airport Limited (MIAL) had a change in ownership. GVK Airports Developers Ltd, which had a 50.5 per cent share, has been taken over by Adani Airport Holdings Ltd, it said.

The change in ownership has been approved by the Central government, SEBI and others. The CIDCO board of directors had passed a resolution approving the same, it said.

In another decision, the cabinet approved the first phase of the Marathwada water grid project worth ₹ 285 crore which will start from the Jayakwadi dam in Paithan taluka of Aurangabad district.

“A proposal for adding the rest of the talukas in the Aurangabad district and in the Marathwada region will be submitted as per the availability of water and finances. The State Water Resources Department is also studying about diverting water from west-flowing rivers into the Godavari Valley,” it said.