Adani Enterprises pays Rs 1,103 cr to AAI for acquiring airport assets
AVIATION & AIRPORTS

Adani Enterprises pays Rs 1,103 cr to AAI for acquiring airport assets

Minister of State for Civil Aviation, V K Singh told the media that Adani Enterprises has paid Rs 1,103 crore to the state-controlled Airports Authority of India (AAI) for acquiring its airport assets at Mangaluru, Lucknow, and Ahmedabad.

Replying to a question at the Rajya Sabha by Trinamool Congress member of parliament Jawhar Sircar, Singh said that according to the concession contracts, the concessionaires of airports at Mangaluru, Lucknow, and Ahmedabad had to pay AAI a sum of Rs 1,103 crore.

It comprised capital for Regulatory Assets Base (RAB) for aeronautical and non-aeronautical assets and Cost of Capital Work in Progress (CWIP) incurred by AAI at these airports.

The Concessionaires have paid AAI a sum of about Rs 1,103 crore so far, including deemed initial RAB up to 31 March 2018 and value of CWIP as on takeover date of respective airports.

The remaining adjusted initial RAB up to acquire the date of the airports, as decided by the Airport Economic Regulatory Authority of India (AERA), is part of the balance payment that the Concessionaires are liable to pay.

Adani Enterprises acquired the works at Mangaluru, Lucknow, and Ahmedabad airports in November last year.

In 2020, the concessionaire had earlier invoked force majeure due to the pandemic and asked for a 205-day extension to acquire the airports, Singh told the media. The AAI awarded the concessionaire 90 days’ extension.

Image Source

Also read: Adani Group pays Rs 2,440 cr to AAI for acquiring six airports

Minister of State for Civil Aviation, V K Singh told the media that Adani Enterprises has paid Rs 1,103 crore to the state-controlled Airports Authority of India (AAI) for acquiring its airport assets at Mangaluru, Lucknow, and Ahmedabad. Replying to a question at the Rajya Sabha by Trinamool Congress member of parliament Jawhar Sircar, Singh said that according to the concession contracts, the concessionaires of airports at Mangaluru, Lucknow, and Ahmedabad had to pay AAI a sum of Rs 1,103 crore. It comprised capital for Regulatory Assets Base (RAB) for aeronautical and non-aeronautical assets and Cost of Capital Work in Progress (CWIP) incurred by AAI at these airports. The Concessionaires have paid AAI a sum of about Rs 1,103 crore so far, including deemed initial RAB up to 31 March 2018 and value of CWIP as on takeover date of respective airports. The remaining adjusted initial RAB up to acquire the date of the airports, as decided by the Airport Economic Regulatory Authority of India (AERA), is part of the balance payment that the Concessionaires are liable to pay. Adani Enterprises acquired the works at Mangaluru, Lucknow, and Ahmedabad airports in November last year. In 2020, the concessionaire had earlier invoked force majeure due to the pandemic and asked for a 205-day extension to acquire the airports, Singh told the media. The AAI awarded the concessionaire 90 days’ extension. Image Source Also read: Adani Group pays Rs 2,440 cr to AAI for acquiring six airports

Next Story
Infrastructure Urban

Designing Tomorrow: Amaravati’s Net Zero Landmark

Amaravati has achieved a defining landmark in India’s sustainable infrastructure journey with the inauguration of the APCRDA Project Office, the nation’s first government building to earn the IGBC Net Zero Energy Rating – Design Stage. Conceptualised by the Andhra Pradesh Capital Region Development Authority (APCRDA) and certified by the Indian Green Building Council (IGBC), the project exemplifies how governance, design and innovation can converge to deliver measurable environmental impact.A vision rooted in sustainabilitySet within a 4.3-acre site along the Seed Access Road in the Amar..

Next Story
Real Estate

Pidilite Elevates Construction with PPS

Pidilite Industries introduced Pidilite Professional Solutions (PPS) — a dedicated vertical for the construction and interiors ecosystem — at ACETECH Bengaluru 2025. Designed to empower architects, developers, contractors, and interior specialists, PPS delivers comprehensive support that extends far beyond products to ensure project excellence from concept to completion. Kavinder Singh, Joint Managing Director, Pidilite Industries, noted, “At Pidilite, we believe in enabling the construction fraternity to build boldly and sustainably. With Pidilite Professional Solutions (PPS),..

Next Story
Infrastructure Transport

Punjab, Centre Fast-Track Rajpura-Mohali Rail Line Development

The central government has fast-tracked the construction of the Rajpura-Mohali rail line to enhance connectivity in Punjab. This ambitious infrastructure project, aimed at improving transportation links between Rajpura and Mohali, has been identified as a key step in fostering regional economic growth. Union Minister for Railways, Ashwini Vaishnaw, announced the project’s acceleration during a recent assessment of the area. The rail line is expected to play a significant role in reducing travel time, promoting industrial growth, and boosting logistics efficiency in the region. The project,..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?