Adani invests $ 1 billion in Navi Mumbai Airport

30 Oct 2023 CW Team

The Adani Group announced an investment of nearly $1 billion in Navi Mumbai International Airport, with plans to commence operations by December the following year.

Of the total investment of Rs 86.25 billion in the Navi Mumbai airport, Adani infused Rs 17.10 billion as equity. Additionally, they secured Rs 29 billion in term loans from a consortium of banks. Furthermore, a sum of Rs 36.55 billion in equity was contributed by the City and Industrial Development Corporation of Maharashtra (Cidco), a city planning agency in Maharashtra. As the project progresses, both Adani and Cidco are set to invest an additional Rs 15.11 billion.

The banks had recently completed their due diligence, which was followed by the investment.

During an annual general meeting held on 19 July, Gautam Adani, the group chairman, informed shareholders that the Navi Mumbai airport would achieve operational readiness by December 2024. "The goal is to launch the first of the four international passenger terminals before December 2024," the same source noted. This terminal is anticipated to manage a minimum of 20 million passengers and 300,000 tonnes of cargo annually. It aims to alleviate the traffic burden at the Mumbai international airport, which is expected to witness 51 million passengers passing through in the current fiscal year.

The current funding round is sufficient to complete the initial two phases out of the planned five for the Navi Mumbai airport. The entire project requires an investment of Rs 208.53 billion, with at least Rs 127.70 billion expected to be raised as term loans from a consortium of lenders. The financial closure for this was accomplished last year, and additional due diligence has been conducted in recent months following the Hindenburg report.

The consortium of lenders includes State Bank of India, EXIM Bank of India, IDBI Bank, India Infrastructure Finance Co, Union Bank of India, Punjab National Bank, Central Bank of India, and Bank of Maharashtra, as mentioned by the two sources. Some of these loans have a tenure of up to 26 years, stated the first insider.

The Adani Group announced an investment of nearly $1 billion in Navi Mumbai International Airport, with plans to commence operations by December the following year. Of the total investment of Rs 86.25 billion in the Navi Mumbai airport, Adani infused Rs 17.10 billion as equity. Additionally, they secured Rs 29 billion in term loans from a consortium of banks. Furthermore, a sum of Rs 36.55 billion in equity was contributed by the City and Industrial Development Corporation of Maharashtra (Cidco), a city planning agency in Maharashtra. As the project progresses, both Adani and Cidco are set to invest an additional Rs 15.11 billion. The banks had recently completed their due diligence, which was followed by the investment. During an annual general meeting held on 19 July, Gautam Adani, the group chairman, informed shareholders that the Navi Mumbai airport would achieve operational readiness by December 2024. The goal is to launch the first of the four international passenger terminals before December 2024, the same source noted. This terminal is anticipated to manage a minimum of 20 million passengers and 300,000 tonnes of cargo annually. It aims to alleviate the traffic burden at the Mumbai international airport, which is expected to witness 51 million passengers passing through in the current fiscal year. The current funding round is sufficient to complete the initial two phases out of the planned five for the Navi Mumbai airport. The entire project requires an investment of Rs 208.53 billion, with at least Rs 127.70 billion expected to be raised as term loans from a consortium of lenders. The financial closure for this was accomplished last year, and additional due diligence has been conducted in recent months following the Hindenburg report. The consortium of lenders includes State Bank of India, EXIM Bank of India, IDBI Bank, India Infrastructure Finance Co, Union Bank of India, Punjab National Bank, Central Bank of India, and Bank of Maharashtra, as mentioned by the two sources. Some of these loans have a tenure of up to 26 years, stated the first insider.

Real Estate

02 Apr 2026

Indian real estate attracts USD 1.4 bn institutional investments in Q1 2026: Vestian

Institutional investments in India’s real estate sector touched USD 1.4 billion in Q1 2026, marking the highest first-quarter inflow since 2022, according to Vestian. While investments fell 62 per cent quarter-on-quarter due to an exceptionally high base in the previous quarter, they rose 74 per cent compared to the same period last year, reflecting sustained investor confidence despite rising geopolitical and macroeconomic challenges.Commercial real estate remained the key driver of investment activity during the quarter, accounting for 80 per cent of total inflows, sharply higher than 38 p..

Infrastructure Transport

02 Apr 2026

VECV crosses 1 lakh annual vehicle sales milestone in FY26

VE Commercial Vehicles (VECV), a joint venture between Volvo Group and Eicher Motors, has surpassed the 1 lakh annual sales mark in FY 2025–26, recording its highest-ever commercial vehicle sales performance. The company said it sold more than 100,000 vehicles during the year, marking a major milestone aligned with the original vision of the Volvo–Eicher joint venture.The strong performance was supported by demand across categories. Light and Medium Duty (LMD) trucks contributed 47,789 units, accounting for 46.1 per cent of total sales. Heavy Duty (HD) trucks recorded 26,867 units (25.9 pe..

Technology

02 Apr 2026

Rodic Digital & Advisory partners SatSure to deploy EO intelligence in public sector

Rodic Digital & Advisory (RDA), the strategic advisory and digital transformation arm of Rodic Consultants, has signed a strategic cooperation Memorandum of Understanding (MoU) with SatSure to jointly pursue opportunities in India’s public sector. The collaboration aims to integrate high-resolution Earth Observation (EO) data and geospatial AI into government workflows to strengthen monitoring, compliance, and operational decision-making across key sectors.The partnership combines SatSure’s Earth intelligence capabilities with RDA’s expertise in government digital transformation and ..