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Wednesday, April 24, 2024

Adani Group Plans ₹60,000-Crore Expansion for 7 Airports: Karan Adani

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The Adani Group intends to expand seven airports across the country over the next 5 to 10 years, with a capital expenditure of ₹60,000 crore. Karan Adani, the Managing Director of the company, stated on Sunday that the capacity of airports managed by Adani Ports would triple by 2040.

According to Arun Bansal, CEO of Adani Airports Holdings (AAHL), ₹30,000 crore will be allocated for improvements to the ‘airside’, while the remaining amount will be invested in the ‘cityside’ infrastructure of airports in Mumbai, Ahmedabad, Lucknow, Mangaluru, Guwahati, Jaipur, and Thiruvananthapuram.

The ‘airside’ encompasses the arrival and departure areas, runways, control towers, and hangars, while the ‘cityside’ pertains to the commercial facilities surrounding the airport.

Bansal clarified that the ₹18,000 crore earmarked for Phase-I development at the Navi Mumbai airport is separate from the ₹60,000 crore expansion plan.

A new terminal at Lucknow Airport was inaugurated recently. Speaking at the event, Mr. Adani mentioned that the Adani Group-managed airports currently handle 10-11 crore passengers annually, a figure set to triple.

The Group presently has no concrete plans to list its airport subsidiary and will finance the investments through the internal accruals of Adani Enterprises Ltd, its parent company.

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