The Adani Group has also announced investment plans worth ₹1 lakh crore in the airports division over the next five years. This is driven by the expected 15–16 per cent annual growth in the Indian aviation industry.
As reported by a news agency,PTI, Jeet Adani, the Director of Adani Airports, said, “This investment marks our firm conviction in the future growth story that the Indian Aviation Industry has to offer.” This statement was made ahead of the commencement of commercial operations that will begin at the Navi Mumbai International Airport from December 25.
Navi Mumbai International Airport, developed by Navi Mumbai International Airport Ltd, where the Adani Group has 74 per cent shares, has been established at an initial investment of ₹19,650 crore. Handling a passenger count of 20 million in the first phase, the airport is expected to expand to 90 million later on.
According to the News Agency, Mumbai’s current airport has been operating at maximum capacity since 2016, making it inadequate to handle increasing demands. The launching of the new airport at Navi Mumbai will help alleviate congestion and ensure growth in air traffic.
At present, the Adani Group has eight airports under its management across Mumbai, Ahmedabad, Lucknow, Guwahati, Trivandrum, Jaipur, and Mangaluru. These eight airports alone handle around 23 per cent and just under 33 per cent of the cargo traffic in the country.
PTI added, The group has expressed that it will aggressively bid in the next round of airport privatization and continue its investments in capacity enhancement, phased expansions, and non-aeronautical services like retail and city-side developments.
