The Adani group will invest about Rs 10,000 crore in the Ahmedabad airport between 2023 and 2027 to augment its passenger handling capacity by three times, making it a regional hub.
In a presentation to investors last week, the Adani group executives said the Ahmedabad airport will be made a regional hub connecting airports such as Bhuj, Kandla, Jamnagar and Bhavnagar. Its annual passenger handling capacity will be increased from 9 million currently to 28 million in 2027, they added.
The Adani group did not respond to queries sent by Business Standard.
The conglomerate had in November 2020 taken control of the Ahmedabad airport from the Airports Authority of India (AAI).
Ahmedabad is a “financial capital” where diverse tourism opportunities and a booming industrial base are present, the presentation noted. The number of hotel rooms has seen an 8.59 per cent compound annual growth rate in the city, it added.
The commercial area in the airport will be increased from the current 2,000 square metres (sq. mt) to 9,000 sq. mt by 2025 to boost non-aeronautical revenues, it added.
The Adani group wants premium brands to open more outlets at the Ahmedabad airport to ensure higher average transaction value.
The capital expenditure planned for the city airport will also be used to develop an integrated cargo terminal with dedicated freighter bays, an air freight station, an e-commerce domestic regional hub and road feeder services.
A transshipment hub for international and domestic cargo will also be developed at the Ahmedabad airport, the presentation noted.
Six airports in Lucknow, Jaipur, Mangaluru, Thiruvananthapuram, Ahmedabad and Guwahati were privatised by the AAI in February 2019 through a competitive bidding process. The Adani group did aggressive bidding and won the rights to run all six of them for 50 years.
During the last few years, the Adani group has gradually increased its presence in the aviation sector. On Tuesday, it acquired Air Works — India’s second-oldest aircraft maintenance repair and overhaul unit — for an enterprise valuation of Rs 400 crore.
The conglomerate’s latest acquisition will give it maintenance capabilities in all three aircraft maintenance verticals — airline, business jets, and defence.
Stay connected with us on social media platform for instant update click here to join our Twitter, & Facebook
We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.
For all the latest Business News Click Here
For the latest news and updates, follow us on Google News.
Denial of responsibility! NewsAzi is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.
