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.

Infrastructure Transport

06 Feb 2026

Lucknow Metro East-West Corridor Consultancy Contract Awarded

The Uttar Pradesh Metro Rail Corporation has awarded the first construction-related consultancy contract for the Lucknow Metro East West Corridor to a joint venture of AYESA Ingenieria Arquitectura SAU and AYESA India Pvt Ltd. The firm was declared the lowest bidder for the Detailed Design Consultant contract for Lucknow Metro Line-2 under Phase 1B and the contract was recommended following the financial bid. The contract is valued at Rs 159.0 million (mn), covering design services for the corridor. Lucknow Metro Line-2 envisages the construction of an 11.165 kilometre corridor connecting Cha..

Infrastructure Urban

06 Feb 2026

Div Com Kashmir Urges Fast Tracking Of Jhelum Water Transport Project

The Divisional Commissioner of Kashmir has called for the fast-tracking of the Jhelum water transport project, urging district administrations and relevant agencies to accelerate planning and clearances. In a meeting convened at the divisional headquarters, the commissioner instructed officials from irrigation, public health engineering and municipal departments to prioritise the project and coordinate survey and design work. The directive emphasised removal of administrative bottlenecks and close monitoring to ensure timely mobilisation of resources and contractors. Officials were told to in..

Infrastructure Urban

06 Feb 2026

Interarch Reports Strong Q3 And Nine Month Results

Interarch Building Solutions Limited reported unaudited results for the third quarter and nine months ended 31 December 2025, recording strong revenue growth driven by execution and a robust order book. Net revenue for the third quarter rose by 43.7 per cent to Rs 5.225 billion (bn), compared with Rs 3.636 bn a year earlier, reflecting heightened demand in pre-engineered building projects. The company’s total order book as at 31 January 2026 stood at Rs 16.85 bn, supporting near-term visibility. EBITDA excluding other income for the quarter increased by 43.2 per cent to Rs 503 million (mn),..