Adani Group plans to give its airport business a Rs 60,000 crore boost

Adani Group plans to give its airport business a Rs 60,000 crore boost in next 10 years The Adani group will be giving the seven airports run by it a Rs 60,000 crore boost over the next five to 10 years to bolster their revenue-generating potential. Nearly half of the amount earmarked would be pumped into terminal and runway capacity over five years, and the remaining would be invested in city-side development of the airports over a period of 10 years.The Rs 60,000 crore capex does not include the Rs 18,000 crore allocated for the Phase-I development of the Navi Mumbai airport, which is scheduled to commence operations by March 2025. “It is a huge amount, but Adani Enterprises Ltd (AEL) will support it through internal accruals. We are a startup operating under AEL, so AEL will fund it for us,” Adani Airports Holdings (AAHL) Chief Executive Officer Arun Bansal said during a press briefing after Prime Minister Narendra Modi inaugurated the new terminal at the Lucknow airport. [Read more](/dHJpc3RyYW1iYWxkd2luODVAZ21haWwuY29t/aHR0cHMlM0ElMkYlMkZ3d3cuYnVzaW5lc3N0b2RheS5pbiUyRmluZHVzdHJ5JTJGYXZpYXRpb24lMkZzdG9yeSUyRmFkYW5pLWdyb3VwLXBsYW5zLXRvLWdpdmUtaXRzLWFpcnBvcnQtYnVzaW5lc3MtYS1ycy02MDAwMC1jcm9yZS1ib29zdC1pbi1uZXh0LTEwLXllYXJzLTQyMDg0OC0yMDI0LTAzLTEx) If you do not wish to receive such emails go [here](/dHJpc3RyYW1iYWxkd2luODVAZ21haWwuY29t)