Adani Group to Invest ₹60,000 Crore in Airport Development: ₹18,000 Crore Allocated for New Mumbai Airport

Adani Group is venturing into the airport business with an investment of Rs. 60,000 crore. The Adani Group plans to invest this amount over the next 10 years in runways, taxiways, aircraft parking stands, and terminal along with city-side infrastructure.

This information has been provided by Karan Adani, the CEO of Adani Ports and SEZ. The Adani Group has stated that they will invest Rs. 30,000 crore in the capacity expansion of airport terminals and runways in the next 5 years, and another Rs. 30,000 crore for city-side development in the next 10 years.

The Adani Group will spend a total of ₹78,000 crore on the development of the new Mumbai airport, with ₹18,000 crore allocated for the first phase of development. The project is expected to be operational by March 2025. Along with this investment, the Adani Group will incur a total expenditure of ₹78,000 crore for the development of the airport.

The company will raise funds internally for the project.

Arun Bansal, the Chief Executive Officer (CEO) of Adani Airport Holdings, has announced that Adani Enterprises Limited will arrange for this funding from internal sources.

The Mumbai airport will operate with a capacity of 2 crore passengers, according to Bansal. He mentioned that they are constructing a new terminal in Guwahati and also planning to build a new terminal in Ahmedabad. The new Mumbai airport will commence operations with a capacity of 2 crore passengers annually.

The company aims to expand its capacity to accommodate 25 to 30 crore passengers by 2040. In 2021, the company acquired Mumbai Airport and Navi Mumbai Airport from the JVK group, which are currently under construction. The current capacity stands at 10 to 11 crore passengers. The group is focused on increasing its capacity to accommodate 25 to 30 crore passengers by 2040, which is the center of attention for the next 16 years.

Adani Airports holds 73% stake in Mumbai Airport. In 2019, the entire portfolio company of the Adani Group was included. The company manages operations, management, and development of 7 airports in the country. Adani Airports holds 73% stake in Mumbai International Airport. Adani Airport Holdings holds a 74% stake in Navi Mumbai Airport. It contributes 25% to total passenger movement and 33% to air cargo traffic in the country.

Akash Shrivastav

My name is Akash Shrivastav, and I am a Blogger. I have 8 years of experience in blogging for Finance, Business, Investment, Stock Market, Cryptocurreny and more. Through my writing, I aim to provide readers with insightful and informative content.