Nearly half of the amount earmarked would be pumped into terminal and runway capacity over five years, and the remaining would be invested in city-side development of the airports over a period of 10 years.
The Adani group will be giving the seven airports run by it a Rs 60,000 crore boost over the next five to 10 years to bolster their revenue-generating potential.
Nearly half of the amount earmarked would be pumped into terminal and runway capacity over five years, and the remaining would be invested in city-side development of the airports over a period of 10 years.
The Rs 60,000 crore capex does not include the Rs 18,000 crore allocated for the Phase-I development of the Navi Mumbai airport, which is scheduled to commence operations by March 2025.
“It is a huge amount, but Adani Enterprises Ltd (AEL) will support it through internal accruals. We are a startup operating under AEL, so AEL will fund it for us,” Adani Airports Holdings (AAHL) Chief Executive Officer Arun Bansal said during a press briefing after Prime Minister Narendra Modi inaugurated the new terminal at the Lucknow airport.
The Adani Group operates six airports – Lucknow, Ahmedabad, Jaipur, Guwahati, Thiruvananthapuram and Mangalore. In 2021, it acquired Mumbai and the upcoming Navi Mumbai Airport from the GVK Group. With eight airports, the group is preparing to build capacity for 250 to 300 million passengers by 2040, said Bansal.
