The Adani Group has unveiled its ambitious strategy to infuse Rs 60,000 crore into its airport business over the next decade, signaling a significant investment drive.
The primary objective of this substantial financial commitment is to enhance the revenue-generating potential of the seven airports currently under its management.
A substantial portion of this massive sum, approximately half of it, is earmarked for the swift expansion of terminal facilities and runway capacities across these airports, with a targeted completion timeline of five years.
The remaining funds will be channeled into comprehensive infrastructure development projects within the cities where these airports are located, a process expected to unfold gradually over a decade.
It's noteworthy that the Rs 60,000 crore allocated for this ambitious expansion initiative does not include the previously allocated Rs 18,000 crore designated for the Phase-I development of the Navi Mumbai airport.
Anticipated to commence operations by March 2025, the Navi Mumbai airport represents a promising addition to the Adani Group's burgeoning airport portfolio.
Commenting on this massive investment endeavor, Arun Bansal, Chief Executive Officer of Adani Airports Holdings (AAHL), emphasized the group's commitment to funding this initiative through internal resources.
"While the amount is substantial, Adani Enterprises Ltd (AEL) will provide support through its internal resources. As a startup operating within AEL, we will rely on AEL to finance it," Bansal remarked during a press briefing following the inauguration of the new terminal at Lucknow airport by Prime Minister Narendra Modi.
Currently, the Adani Group oversees operations at six airports across India, namely Lucknow, Ahmedabad, Jaipur, Guwahati, Thiruvananthapuram, and Mangalore.
With the recent acquisition of Mumbai Airport and the forthcoming Navi Mumbai Airport from the GVK Group in 2021, the group's airport portfolio has expanded to encompass eight facilities. Looking ahead, Bansal envisions a significant increase in capacity, aiming to serve between 250 to 300 million passengers by 2040.
This announcement coincides with Prime Minister Narendra Modi's inauguration of the new terminal at Lucknow airport, underscoring the Adani Group's commitment to transforming India's aviation landscape through substantial investments and strategic expansions.
