Adani signs agreement with AAI to develop, operate six airports

Our Bureau Mumbai | Updated on February 14, 2020

The Adani Group on Friday said it had inked agreements with the Airports Authority of India (AAI) for the management, operations and development of airports in Ahmedabad, Mangaluru and Lucknow.

The concession period is 50 years from the commercial operation date, Adani Enterprises had said in a filing to the stock exchanges.

A spokesperson said in a statement the agreements had been signed by the company’s wholly-owned subsidiaries, Adani Ahmedabad International Airport Ltd, Adani Lucknow International Airport Ltd and Adani Mangaluru International Airport Ltd.

“Today, as we sign the concession agreements for Mangaluru, Lucknow & A’bad with the AAI, its the beginning of another historic journey catering to India’s exponential airport infra demands,” tweeted Adani Group Chairman Gautam Adani.

In 2018, the Centre had decided to privatise six airports — in Lucknow, Ahmedabad, Jaipur, Mangaluru, Thiruvananthapuram and Guwahati. The operation, management and development of these aerodromes were to be handled through the public-private partnership model. Last year, Adani won the bids to develop and run all the six AAI airports following a competitive bidding process.

In a tweet, the AAI said the concession fee from this deal would be utilised for the maintenance and development of brownfield, greenfield and RCS-UDAN airports.

Published on February 14, 2020

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