News Brief
Adani Group Set To Transform Airport Business With Rs 60,000 Crore Investment, Here's All About It
Adani Group. (Representative image).
The Adani Group plans to invest Rs 60,000 crore in its airport business over the next decade, excluding the Rs 18,000 crore already invested in the first phase of the Navi Mumbai airport.
The investment will cover infrastructure such as runways, terminals, and city-side facilities like hotels and shopping malls. The group intends to fund this investment through internal accruals, according to a report from The Economic Times.
Karan Adani, managing director of Adani Ports & SEZ Ltd, anticipates a shift in air travel patterns, with their airports becoming major international hubs in the future.
The group plans to list its airport business once it becomes profitable. Adani Airport Holdings CEO Arun Bansal stated that the group aims to build capacity for 250 to 300 million passengers by 2040, up from about 73 million currently.
The group has already inaugurated a new terminal at Lucknow and plans further capacity additions at other airports, including Navi Mumbai and Guwahati.
Adani stated, "Right now we are looking at building the platform for the airport business, building infrastructure and technology to a world-class level. Once that happens, we will definitely list it separately in the exchanges."
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