01 Dec 2020
Adani takes over Ahmedabad airport for 50 years
The Adani Group has begun commercial work at Sardar Vallabhbhai Patel International Airport after taking over the operational rights of Ahmedabad Airport earlier the November month. While the airport was being managed by the Airports Authority of India (AAI), it signed over the concession agreement to the Adani Group on February 14 this year. The group will now be dealing with the operations, development, maintenance and management of Ahmedabad Airport, Lucknow Airport and Mangalore Airport.
Indeed, after a competitive bidding process, Adani Group has won the rights for the management and operations of six major airports within the country on lease for the next 50 years. Privatised by the Central Government, these include Lucknow, Mangalore, Jaipur, Guwahati, Ahmedabad and Thiruvananthapuram. From this list, the company has already begun to manage the operations for Lucknow Airport from October 31 and Mangalore Airport from November 2.
The company is expected to soon take over the management of the Mumbai and Navi Mumbai airports over the next few months and is expected to take over all six airports by March 2021.
According to Adani Enterprises, from the Rs.7.8 billion capital kept aside for the airport business, the company will spend Rs.142.49 billion on Mumbai Airport and Navi Mumbai Airport when it takes over. It will also spend around Rs.150 billion on the other six major airports already under its management.