Adani’s airport outlay plans at ₹60k crore in 10 years
livemint.com₹60,000 crore to expand the seven existing airports in its portfolio over the next 5-10 years, Karan Adani, MD of Adani Ports and Special Economic Zone Ltd, said. About half of the investment would be pumped into terminal and runway capacity over five years, and the rest would be invested in city-side development of the airports over a period of 10 years, Adani said on the sidelines of an event. These investments will be in addition to the ₹18,000 crore that the group plans to invest in Navi Mumbai airport.
Adani added that these investments will be funded through internal accruals of parent company Adani Enterprises Ltd, and the group has not made any firm plans on listing the airport subsidiary of the company, Adani Airport Holdings Limited, yet. The Adani group operates airports in Mumbai, Ahmedabad, Lucknow, Mangaluru, Jaipur, Guwahati and Thiruvananthapuram. Barring Mumbai airport, which was acquired from the GVK group in 2021, the group won the rights to upgrade and operate the other six airports between 2020 and 2021 for a period of 50 years.
Adani was speaking on the sidelines of the inauguration of a new terminal at Lucknow airport by Prime Minister Narendra Modi. On Sunday, Modi inaugurated airport projects worth ₹9,800 crore from Azamgarh in UP. These include new terminal buildings of Pune, Kolhapur, Gwalior, Jabalpur, Delhi, Lucknow, Aligarh, Azamgarh, Chitrakoot, Moradabad, Shravasti and Adampur airports.
He laid the foundation stones for new terminal buildings for Kadapa, Hubballi and Belagavi Airports. Explaining the strategy for the airport’s business, Adani added that the group sees airports in smaller cities becoming hubs for international passengers. “In coming times, we foresee non metros bypassing
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