Adani Group has also announced investing a massive Rs. 1 lakh crore (US$ 12.5 billion) in its airport sector over the next five years, which clearly indicates the group’s strong belief in the favourable growth pattern being observed in the country’s aviation sector in recent years. The investment will help the group capitalize on the growing trend in air traffic demand, which is estimated to grow at a Compound Annual Growth Rate (CAGR) of 15-16% said Director of Adani Airports, Mr. Jeet Adani. This announcement comes on the sidelines as the group readies itself for the start of commercial operations at Navi Mumbai International Airport. Navi Mumbai international airport project involved an initial investment of Rs. 19,650 crore (US$ 2.46 billion). Its initial capacity would handle 20 million passengers on an annual basis and expand to handle a massive 90 million in the future, reducing the current burden on the existing Mumbai airport.
The current operations of Adani Airports encompass a broad spectrum of metro and regional airports, namely Ahmedabad, Lucknow, Guwahati, Thiruvananthapuram, Jaipur, and Mangalore, aside from Mumbai. As a result of this substantial capital injection, the conglomerate intends to improve airport infrastructure, improve passenger experience, and take a proactive role in impending airport privatization tenders, including the shortlisted 11 airports to be operated by the government. Aside from developing core airport infrastructure, Adani Airports is also anticipated to develop other supporting facilities and improve capacities.
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