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New Delhi: Adani Group is working on a big plan to strengthen its grip on the airport market worth Rs 1.35 lakh crore in the country, Bloomberg reported. According to the information, Adani Group is planning to invest 15 billion dollars to increase the passenger capacity at its airport to 20 million per annum in the next five years. This will help in speeding up the aviation sector in India. On the other hand, Adani Group is also preparing to list its airport port unit on the stock market.
This scheme includes adding a terminal, taxiway and a new runway at the Navi Mumbai airport, which is scheduled to open on 25 December. Bloomberg's report quoted sources that the group will also work on increasing the capacity at Ahmedabad, Jaipur, Thiruvananthapuram, Lucknow and Guwahati airports. Sources said that about 70 percent of the funds will go from the loans raised in five years, while the rest will be obtained from equity.
If you believe the experts, the expansion of Adani Group is in accordance with the estimated growth of India's airport traffic. The number of passengers is expected to double to 300 million per year by the year 2030. By increasing the capacity to two-thirds of that number, Adani is positioning itself as a key facilitator of this growth, while fully strengthening its side for a planned initial share sale for its airport unit. According to sources, the total passenger capacity will be increased by more than 60 percent in this expansion scheme. This does not include 2 crore airports in Navi Mumbai and 1.1 crore airports in Guwahati, which are starting this month.
The Adani Group's advancement is focused on six airports leased during India's second privatization phase in 2020, which were previously managed by the state-owned Airports Authority of India. India started privatization of airports in 2006, when GMR Airports Limited and GVK Power and Infrastructure Limited acquired New Delhi and Mumbai. Later, Adani bought the stake of GVK.
The government is now planning to privatise 11 more airports, in which loss-making facilities will be linked with profitable airports. Adani Airport Holdings Limited, India's largest operator by number of airports and GMR Airports, the largest by passenger traffic, are expected to be at the forefront of the bid. India is also building a second airport in Delhi to meet the demand, and the target of 400 airports across the country has been set by 2047, which is 160 at present.
