Tue. Sep 29th, 2020

Adani Group, AAI sign pacts for managing Ahmedabad, 2 other airports

Adani Group on Friday inked agreements with state-owned Airports Authority of India (AAI) for the management, operations and development of Ahmedabad, Mangaluru and Lucknow airports. The concession period is 50 years from the commercial operation date, Adani Enterprises said in a filing to stock exchanges.
“Today, as we sign the concession agreements for Mangaluru, Lucknow & A’bad with the AAI, its the beginning of another historic journey catering to India’s exponential airport infra demands,” Adani Group chairman Gautam Adani said in a tweet.

Three subsidiaries of the group — Adani Ahmedabad International Airport Ltd, Adani Lucknow International Airport Ltd and Adani Mangaluru International Airport Ltd — have signed concession agreements with AAI.

In 2018, the government decided to privatise airports at Lucknow, Ahmedabad, Jaipur, Mangaluru, Thiruvananthapuram, and Guwahati. It was for operation, management and development of these aerodromes through public-private partnership model. Adani Enterprises had won the rights to run these six airports after competitive bidding process.

In a tweet, the AAI said the concession fee would be utilised for the maintenance and development of brownfield airports along with RCS-UDAN and other greenfield airports.

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RCS is Regional Connectivity Scheme (RCS), which is also known as Ude Desh ka Aam Nagrik (UDAN).

In another news, Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey has said that the government expects to complete sale of national carrier Air India in the first half of the next fiscal. During an interaction with financial sector experts to discuss the Union Budget, Pandey also said disinvestment strategy has shifted from minority stake sale in public sector units to strategic sale, and a lot of privatisation would happen in the next fiscal.

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