The Adani Group plans to invest $15 billion over the next five years to expand passenger-handling capacity across its airport network to 200 million annually, according to people familiar with the matter. The move aims to position the group at the forefront of India’s rapidly accelerating aviation market as it prepares to list its airports business.

The expansion strategy includes new terminals, additional taxiways and preparation for a second runway at Navi Mumbai International Airport, which is scheduled to open on 25 December. Capacity enhancement works are also planned at airports in Ahmedabad, Jaipur, Thiruvananthapuram, Lucknow and Guwahati.

Around 70 per cent of the planned investment is expected to be financed through debt raised over five years, with the remainder brought in as equity, the people said. The programme aligns with projections that India’s annual air passenger numbers will more than double to 300 million by 2030. By scaling capacity to nearly two-thirds of this figure, Adani aims to play a central role in facilitating the sector’s growth while boosting the appeal of its forthcoming airport unit IPO.

The planned expansion—expected to increase the group’s total passenger capacity by more than 60 per cent—does not include the additional 20 million capacity at Navi Mumbai or the 11 million at the new Guwahati terminal opening this month.