Adani Group eyes stake in Bengaluru airport

16 Nov 2022 CW Team

Adani Group has been weighing various options for acquiring a stake in the airport. Fairfax has held discussions, and the company is eager to participate in the bid for the 13% stake in the Airports Authority of India (AAI).

Under a 30-year concession agreement with the central government, BIAL owns and operates Bengaluru's Kempegowda International Airport. It has the option to extend the contract for another 30 years.

The airport project was awarded in 1999 to the unique 40:17:17 partnership led by the Siemens project consortium consisting of Zurich and L&T, with AAI and Karnataka State Industrial and Infrastructure Development Corporation each holding a 13% stake.

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