The Adani group will be giving the seven airports run by it a Rs 60,000 crore boost over the next five to 10 years to bolster their revenue-generating potential.
Nearly half of the amount earmarked would be pumped into terminal and runway capacity over five years, and the remaining would be invested in city-side development of the airports over a period of 10 years.
The Rs 60,000 crore capex does not include the Rs 18,000 crore allocated for the Phase-I development of the Navi Mumbai airport, which is scheduled to commence operations by March 2025. “It is a huge amount, but Adani Enterprises Ltd (AEL) will support it through internal accruals.
We are a startup operating under AEL, so AEL will fund it for us,” Adani Airports Holdings (AAHL) Chief Executive Officer Arun Bansal said during a press briefing after Prime Minister Narendra Modi inaugurated the new terminal at the Lucknow airport.
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