Home / Companies / News /  Adani wins bid to redevelop Ahmedabad, Trivandrum, three other airports

New Delhi: The Adani Group has emerged as the highest bidder for developing five out of the six airports for which the Airports Authority of India (AAI) has sought bids. The concession period is for 50 years.

The airports for which the group has emerged the highest bidder—in terms of revenue per passenger to be shared with the government—are Lucknow, Jaipur, Ahmedabad, Mangalore and Trivandrum. Bids for Guwahati airport haven't opened yet.

An official statement said that Adani Enterprises Ltd emerged as the highest bidder for the five airports. GMR Airports Ltd, Autostrade Indian Infrastructure development Pvt. Ltd, PNC Infratch Ltd, a consortium of National Investment and Infrastructure Fund and Zurich Airport International AG, Kerala State Industrial Development Corp., and Kochi International Airport Ltd were among the other bidders, said the statement.

The developer will also get rights for developing real estate projects and conducting retail operations in the premises of the airport that will add to its stream of revenue and help pay for the revenue to be shared with the government.

The government had in November 2018 cleared privatization of the management of the six airports, saying that experience of managing five airports in Delhi, Mumbai, Bengaluru, Kochi and Hyderabad through private participation has been encouraging. Private participation in infrastructure projects brings efficiency in service delivery, expertise and more professionalism.

ABOUT THE AUTHOR

Gireesh Chandra Prasad

Gireesh has over 22 years of experience in business journalism covering diverse aspects of the economy, including finance, taxation, energy, aviation, corporate and bankruptcy laws, accounting and auditing.
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