Adani Airport Holdings integrates Celeritas International FZCO in UAE
AVIATION & AIRPORTS

Adani Airport Holdings integrates Celeritas International FZCO in UAE

Adani Airport Holdings Limited (AAHL), a subsidiary of Adani Enterprises, has established a new entity named Celeritas International FZCO in the UAE. The company announced that Celeritas will operate in the Jebel Ali Free Zone with an authorised and paid-up share capital of AED 100,000. However, the entity is yet to commence business operations, according to an exchange filing.

AAHL holds a 74% stake in Celeritas International, and no related party transactions are involved in this acquisition.

In other developments, April Moon Retail Private Limited—a joint venture of Adani Airport Holdings—plans to acquire a 74% stake in Cococart Ventures Private Limited for Rs 2 billion, as disclosed in a recent stock exchange filing.

Adani Enterprises, which manages the group’s businesses across airports, roads, and data centers, has earmarked Rs 800 billion for capital expenditure in the current fiscal year. Out of this, Rs 500 billion is allocated to airports and Adani New Industries. Adani Airports, which currently operates seven airports and is constructing an eighth facility in Navi Mumbai, has outlined an investment of $21 billion over the next decade, according to group CFO Jugeshinder Singh.

Since entering the airports sector in 2019, the Adani Group has become India’s largest private airport operator. Adani Enterprises reported a 116% year-on-year surge in consolidated net profit to Rs 14.54 billion for the first quarter of FY24, compared with Rs 6.74 billion in the same period last year. Revenue from operations rose 12% year-on-year to Rs 254.72 billion, up from Rs 226.44 billion in the corresponding period.

(ET)

Adani Airport Holdings Limited (AAHL), a subsidiary of Adani Enterprises, has established a new entity named Celeritas International FZCO in the UAE. The company announced that Celeritas will operate in the Jebel Ali Free Zone with an authorised and paid-up share capital of AED 100,000. However, the entity is yet to commence business operations, according to an exchange filing. AAHL holds a 74% stake in Celeritas International, and no related party transactions are involved in this acquisition. In other developments, April Moon Retail Private Limited—a joint venture of Adani Airport Holdings—plans to acquire a 74% stake in Cococart Ventures Private Limited for Rs 2 billion, as disclosed in a recent stock exchange filing. Adani Enterprises, which manages the group’s businesses across airports, roads, and data centers, has earmarked Rs 800 billion for capital expenditure in the current fiscal year. Out of this, Rs 500 billion is allocated to airports and Adani New Industries. Adani Airports, which currently operates seven airports and is constructing an eighth facility in Navi Mumbai, has outlined an investment of $21 billion over the next decade, according to group CFO Jugeshinder Singh. Since entering the airports sector in 2019, the Adani Group has become India’s largest private airport operator. Adani Enterprises reported a 116% year-on-year surge in consolidated net profit to Rs 14.54 billion for the first quarter of FY24, compared with Rs 6.74 billion in the same period last year. Revenue from operations rose 12% year-on-year to Rs 254.72 billion, up from Rs 226.44 billion in the corresponding period. (ET)

Next Story
Infrastructure Urban

Power Minister Vows Rajabala Relief by August

Power Minister AT Mondal on Thursday addressed the ongoing electricity crisis in the plain regions of Garo Hills—particularly Rajabala—citing infrastructure limitations and right-of-way disputes as major hurdles.His comments follow criticism from the Trinamool Congress (TMC), which has warned of a public demonstration outside his residence unless swift action is taken.Rajabala TMC MLA, Mizanur Rahman Kazi, accused the state of neglecting repeated pleas, claiming several rural areas are experiencing prolonged outages, with blackouts lasting up to six days.Acknowledging the gravity of the is..

Next Story
Infrastructure Urban

UP, Railways Partner to Boost Logistics Infra

In a bid to strengthen Uttar Pradesh’s industrial and logistics ecosystem, Invest UP and the Lucknow Division of Northern Railway signed a memorandum of understanding (MoU) on Wednesday at Lok Bhawan.The agreement, signed by Invest UP CEO Vijay Kiran Anand and Rajneesh Kumar Srivastava, Senior Divisional Operations Manager of Northern Railway, aims to offer railway land to investors at a concessional lease rate of 1.5 per cent of the prevailing industrial or circle rate for a period of 35 years.According to the official statement, this initiative will allow investors to develop warehousing a..

Next Story
Infrastructure Transport

Jindal Family Trust to Sell Rs 12 Bn in JSW Infra Shares

The Sajjan Jindal Family Trust is reportedly preparing to divest shares worth up to Rs 12 billion in JSW Infrastructure via a block deal, as part of efforts to meet regulatory requirements on public shareholding.The floor price for the sale has been fixed at Rs 288 per share, with as many as 42 million shares on offer.According to the latest exchange filings, the Trust currently holds an 80.72 per cent stake in the company, while total promoter ownership stands at 85.62 per cent.In an earlier regulatory disclosure, JSW Infrastructure confirmed that the Sajjan Jindal Family Trust, through its t..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?