The Adani Group, a prominent conglomerate in India, has unveiled its ambitious plan to invest Rs 60,000 crore over the next decade to bolster its airport business. This significant financial injection aims to enhance the revenue potential of the seven airports currently under the group’s operation.
Key Highlights:
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Investment Breakdown:
- Approximately half of the earmarked funds will be allocated to enhance terminal and runway capacities within five years.
- The remaining sum will be strategically utilized for the development of airport infrastructure within the cities they serve.
- Notably, this Rs 60,000 crore investment does not include the Rs 18,000 crore previously allocated for the Phase-I development of the Navi Mumbai airport.
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Focus Areas:
- The investment will primarily channel into critical areas such as runways, taxiways, aircraft parking stands, and terminals.
- Additionally, the group aims to enhance city-side amenities, including the development of hotels and shopping malls.
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Internal Funding Commitment:
- Arun Bansal, Chief Executive Officer of Adani Airports Holdings (AAHL), emphasized the group’s commitment to funding this initiative through internal accruals.
- “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,” stated Bansal during a press briefing after Prime Minister Narendra Modi inaugurated the new terminal at the Lucknow airport.
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Current Airport Portfolio:
- The Adani Group currently manages six airports across India, including Lucknow, Ahmedabad, Jaipur, Guwahati, Thiruvananthapuram, and Mangalore.
- With the recent acquisition of Mumbai and the forthcoming Navi Mumbai Airport from the GVK Group in 2021, the group’s airport portfolio has expanded to eight.
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Vision for the Future:
- Looking ahead, Bansal envisions a capacity to cater to 250 to 300 million passengers by 2040.
- The announcement comes in the wake of Prime Minister Narendra Modi inaugurating the new terminal at Lucknow airport.
The Adani Group’s strategic investment underscores its commitment to transforming India’s aviation landscape and positioning itself as a major player in the airport business. As the group continues to expand its footprint, the skies seem boundless for Adani Airports. 🛫✨
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