Home Business The Adani group intends to invest ₹60,000 crores into airport business over the course of the next decade

The Adani group intends to invest ₹60,000 crores into airport business over the course of the next decade

by admin
1 comment

The Adani Group plans to invest ₹60,000 crore in its airports over the next decade, aiming to turn them into vibrant commercial centers. With seven operational airports and one under construction in Navi Mumbai, currently handling 100-110 million passengers annually, the group intends to increase their capacity 2.5-3 times by 2040.

In the near future, ₹30,000 crore is set aside for improving airport terminals and facilities across the group’s airports within the next five years. This substantial investment is in addition to the ₹18,000 crore already invested in the initial phase of the Navi Mumbai airport.

Arun Bansal, CEO of Adani Airport Holdings Limited, announced plans for further development during the inauguration of a new terminal at Lucknow, stating, “We are constructing a new terminal in Guwahati and have plans for another in Ahmedabad. The Navi Mumbai airport will commence operations early next year with a capacity of 20 million passengers per year.”

Karan Adani, Managing Director of Adani Ports and SEZ Limited, foresees a significant transformation for airports in Ahmedabad and Lucknow, aiming to turn them into major aviation hubs with direct connections to Europe and the US. Currently, travelers from these cities typically have to transit through West Asia, Delhi, or Mumbai to reach these destinations abroad.

“What we will witness is a direct link from these airports to overseas destinations,” remarked Adani.

Furthering this vision, an additional ₹30,000 crore is designated for urban development projects surrounding eight airports over the next decade. These projects include the construction of hotels, cinemas, and various other amenities. The group expects significant revenue growth from these commercial endeavors, understanding the regulated nature of aeronautical tariffs and expecting commercial investments to materialize gradually over the next decade, subject to approvals.

Bansal also mentions that these investments will be financed internally by the group, avoiding questions about a reported $2.6 billion fund raise for the airport and green hydrogen business. The immediate focus remains on getting the Navi Mumbai airport up and running and kickstarting urban development projects, with the potential for an IPO for the business in the future.

“Internationally, our strategy is to engage in airport development opportunities that align with the group’s interests…where there are broader opportunities in the country like ports, transmission, etc. We are currently considering one specific country,” Bansal explains.

In another development, Prime Minister Narendra Modi inaugurated the integrated Terminal 3 (T3) of the Chaudhary Charan Singh International Airport (CCSIA) on Sunday. This terminal, constructed by the Adani Group, cost ₹2,400 crore.

Terminal 3 (T3) will serve both domestic and international flights, capable of accommodating 4,000 passengers during busy periods. Phase I of this top-notch terminal can accommodate 8 million passengers annually, and Phase 2 will increase the capacity to 13 million passengers per year.

Addressing the progress, Karan Adani expressed, “Our vision for CCSIA is ambitious and extensive. The master plan aims to increase the airport’s capacity to accommodate 38 million passengers annually by 2047-48. This substantial growth is fundamental to our strategy in bolstering Uttar Pradesh’s goal of becoming a one-trillion-dollar economy. We’re not just constructing infrastructure – we’re generating over 13,000 direct and indirect job opportunities, thereby making a significant contribution to the economic progress of the region and the state.

You might also be interested in – Adani Realty secures ₹30,000 crore contract for Bandra Reclamation redevelopment in Mumbai

Visited 13 times, 1 visit(s) today

You may also like

1 comment

The Central government enacts the Citizenship Amendment Act (CAA) - SMT FinMedia March 12, 2024 - 12:21 pm

[…] You might also be interested in – The Adani group intends to invest ₹60,000 crores into airport business over the course of the next… […]


Leave a Comment