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Business News/ Companies / News/ Adani Group completes financial closure for Navi Mumbai airport

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Adani Group completes financial closure for Navi Mumbai airport

1 min read 29 Mar 2022, 10:18 PM IST Join us

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The group took over the Mumbai international airport and the Navi Mumbai airport project from the GVK Group in July last year.

The SBI has underwritten the entire debt requirement of ₹12,770 crore for the NMIA project

The Adani Group on Tuesday announced that it has achieved financial closure for the greenfield airport project in Navi Mumbai with SBI underwriting its entire debt requirement of ₹12,770 crore. The group had took over the Mumbai international airport and the Navi Mumbai airport project from the GVK Group in July last year.

In a statement, the company said, “Navi Mumbai International Airport Private Ltd (NMIAL), a subsidiary of Adani Enterprises Ltd (AEL), has achieved financial closure for the greenfield international airport project at Navi Mumbai...with the execution of financing documents with the State Bank of India (SBI)."

"The SBI has underwritten the entire debt requirement of ₹12,770 crore for the NMIA project," it added.

Jeet Adani, Director, NMIAL, said, "With this facility from the SBI, we have moved a step closer to providing Mumbai with another landmark utility."

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