Adani puts Hindenburg behind with a $3-billion fundraising plan
₹15 trillion mark soon after the Supreme Court judgement. The Adani group has already invested close to $1 billion in the Navi Mumbai airport to operationalize the first of the four planned passenger terminals by December 2024.
“The airport work will progress faster now with the direct connectivity established with Mumbai city and JNPT (Jawaharlal Nehru Port Trust) after the recent completion of the Mumbai Trans Harbour Link (MTHL)," the first person added. MTHL was opened on 13 January to connect Mumbai with Navi Mumbai through the country’s longest bridge built over a large creek of the Arabian Sea after five decades of rigorous planning.
The Navi Mumbai town planning authority—City Industrial Development Corporation—is building a 7km coastal highway from Amra Marg junction in Belapur to JNPT in order to provide smooth connectivity to NMIA and spur the state’s economic growth. For the Adani group, MTHL may provide further impetus to the business of NMIA, which requires a total investment of at least $2.5 billion, of which at least ₹12,770 crore ($1.74 billion) is expected to be raised as term loans from a consortium of lenders.
The Navi Mumbai airport project, which will have a capacity to handle 90 million passengers and 2.5 million tonnes of cargo annually, is planned to be completed by 2032. On 13 January, civil aviation minister Jyotiraditya Scindia said 55% of the NMIA project has been completed, while the government aims to double domestic passenger traffic in the country from the present 150 million to 300 million by 2030.
Meanwhile, the Adani group is targeting a green hydrogen capacity of 3 million tonnes in the next 10 years with an investment of $50 billion. It has already spent about $2.5 billion in
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