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Business News/ Companies / News/  Airports platform will create strategic benefits for the group: Gautam Adani
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Airports platform will create strategic benefits for the group: Gautam Adani

The company has won the mandate to modernise and operate six airports in Ahmedabad, Lucknow, Mangaluru, Jaipur, Guwahati and Thiruvananthapuram.
  • Adani Airports will operate, manage and develop these airports over a period of 50 years
  • Indian billionaire Gautam Adani. (File Photo: REUTERS)Premium
    Indian billionaire Gautam Adani. (File Photo: REUTERS)

    MUMBAI: The addition of the Mumbai International Airport Ltd (MIAL) and the upcoming Navi Mumbai International Airport to the airports portfolio of Adani Enterprises Ltd will provide “a transformational platform that will help shape and create strategic adjacencies for our other B2B businesses," Gautam Adani, chairman, Adani Group, said on Wednesday. “This acquisition helps us redesign the way we will serve our customer base and bridge our B2C and B2B business models," Adani added in a statement.

    Commenting about his latest acquisition, Adani said the Mumbai airport is expected to become India’s leading airport, as well as a key domestic and international hub. This would primarily be on the back of air passenger traffic in the country growing five-fold, and 200 new airports being built to handle over 1 billion domestic and international passengers across tier-I, tier-II and tier-III cities—most of which will connect with Mumbai.

    “Over this period, India’s top 30 cities are expected to each require two airports and Adani Airports sees itself well-positioned to help build the infrastructure platform required," he added.

    Stressing on the importance of airports in the business ecosystem, Adani said that they “define the character of a city and become a critical factor for the choice of a business location, tourism, urban economic growth and global economic integration". “Our view is that the economic value that the cities of the future create will be maximized around airports."

    Adani Airports is a subsidiary of Adani Enterprises, the flagship company of the Adani conglomerate. On Monday, the group said it has entered into a definitive pact to acquire the debt of GVK Airport Developers Ltd, the current majority owner of MIAL, against which a 50.5% stake in the airport consortium has been pledged.

    The Adani Group will also buy the combined 23.5% stake held by Airport Company of South Africa (Acsa) and South Africa’s Bidvest group in MIAL, for which it has obtained the approval of the Competition Commission of India. This would give the group a 74% stake in MIAL. The remaining 26% stake will be held by state-run Airports Authority of India.

    The company has also won the mandate to modernize and operate six airports at Ahmedabad, Lucknow, Mangaluru, Jaipur, Guwahati and Thiruvananthapuram. Adani Airports will operate and develop these airports for 50 years.

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    Published: 02 Sep 2020, 02:58 PM IST
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