Which Company Signed An Agreement With Aai For Operating The Ahmedabad

Apr 15th, 2021 | By | Category: Uncategorized

Adani Group on Friday signed agreements with the Airport Authority of India (AAI) for the management, operation and development of The Airports of Ahmedabad, Mangaluru and Lucknow. “Today, as we sign the concession contracts of Mangaluru, Lucknow-A`bad with the IAA, this is the beginning of another historic journey that meets the exponential demands of India`s airport,” Gautam Adani, president of the Adani Group, said in a tweet. The Adani Group said on Friday that it had entered into agreements with the Airports Authority of India (AAI) for the management, operation and development of airports in Ahmedabad, Mangaluru and Lucknow. The company has won the rights to operate six major airports in the country – Lucknow, Ahmedabad, Jaipur, Mangaluru, Thiruvananthapuram and Guwahati – for 50 years. The company took over the operation, management and development of Lucknow and Mangaluru airports on 31 October and 2 November respectively. The company is expected to take control of Mumbai and Navi Mumbai airports in the coming months, no later than March 2021. On 14 February, the IAA signed concession contracts with the Adani Group for the operation, management and extension of Mangaluru, Lucknow and Ahmedabad airports. Last August, the Adani Group added another source of revenue by entering the airport area and creating a new company called Adani Airports Ltd. A spokesman said in a statement that the agreements were signed by the company`s whoress, Adani Ahmedabad International Airport Ltd, Adani Lucknow International Airport Ltd and Adani Mangaluru International Airport Ltd. While the company signed concession contracts with AAI earlier this year to acquire three airports, the company asked the National Airport Agency to delay the transition by six months due to commercial uncertainty related to the coronavirus pandemic. “For Capex, we were able to pay on the current balance and reserves. For future spending, we will borrow 2,100 kronor this year. It is over and we will sign an agreement with Axis Bank on the loan,” said the official.

The aim of the new company is to buy, encourage, unravel, maintain, develop, design, build, modernize, modernize, renovate, expand and manage airports in India and abroad. Last week, an executive at Adani Enterprises, the flagship of Adani Group, said he planned to invest about 50,000 people in investments over the next five years to boost its new business, much of which will be devoted to the airport`s operations.

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