The Airport Authority of India (AAI) has been given a new proposal to acquire property on the other side of the Adyar river for the development of Chennai airport by the Tamil Nadu state government.
On the other side of the Adyar River, AAI has previously requested that the state government purchase 306 acres for the building of an international port and a cargo terminal.
Six land parcels in and around the Cowl Bazaar area were the subject of a joint survey by the Tamil Nadu Industrial Development Corporation (TIDCO) and the Airports Authority of India (AAI), which found that the acquisition cost was excessive.
The MoU was signed by ONGC CMD R K Srivastava and Chairman of Shell Group of companies in India Nitin Prasad in the presence of senior executives of both the companies. The MoU was exchanged in the presence of Secretary, Ministry of Petroleum and Natural Gas Pankaj Jain
