Adani Group
Adani Group is working on a big plan to further strengthen its hold on the country’s airport market worth Rs 1.35 lakh crore. According to the information, Adani Group is planning to invest 15 billion dollars to increase the passenger capacity at its airport to 200 million annually in the next five years. This will help in accelerating the aviation sector in India. On the other hand, Adanigroup is also preparing to list its airport port unit in the stock market.
The plan includes adding terminals, taxiways and a new runway at Navi Mumbai Airport, which is scheduled to open on December 25. In the Bloomberg report, quoting sources, it has been informed that the group will also work on increasing the capacity at Ahmedabad, Jaipur, Thiruvananthapuram, Lucknow and Guwahati airports. Sources said that about 70 percent of the funds will be raised from loans raised over five years, while the remaining funds will be raised from equity.
Adani’s planning is something like this
According to experts, the expansion of Adani Group is in accordance with the estimated growth of India’s airport traffic. The number of passengers is expected to double to 300 million per year by 2030. By increasing capacity by two-thirds of that number, Adani is positioning itself as a key driver of this growth, while also completely strengthening its case for the planned initial share sale for its airport unit. According to sources, in this expansion plan the total passenger capacity will be increased by more than 60 percent. This does not include the 2 crore airports of Navi Mumbai and 1.1 crore airports of Guwahati, which are being started this month.
This advancement by Adani Group is focused on six airports leased during India’s second privatization phase in 2020, which were previously managed by the state-owned Airports Authority of India. India began privatization of airports in 2006, when GMR Airports Limited and GVK Power and Infrastructure Limited acquired New Delhi and Mumbai. Later Adani bought GVK’s stake.
11 airports will be privatized
The government is now planning to privatize 11 more airports, in which loss-making facilities will be linked with profitable airports. Adani Airport Holdings Limited, India’s largest operator by number of airports, and GMR Airports, the largest by passenger traffic, are expected to lead the bidding. India is also building a second airport in Delhi to meet the demand, and a target has been set to have 400 airports across the country by 2047, from the current 160.