News Headlines, English News, Today Headlines, Top Stories | Arth Parkash

The Adani Group has unveiled plans to inject Rs 60,000 crore into expanding its airport business over the next decade, aiming to boost revenue potential across its seven airports.

Expansion plans

A significant portion of the investment, about half, will focus on enhancing terminal and runway capacities within five years. The remaining funds will be allocated to developing airport infrastructure in the cities they serve, with a timeline spanning a decade.

ALSO READ: Paytm founder assures continuity of QR, soundbox, and EDC services beyond March 15, dispelling rumors

Navi Mumbai airport and financial backing

Notably, the Rs 60,000 crore investment does not include the Rs 18,000 crore designated for Phase-I development of the Navi Mumbai airport. Expected to commence operations by March 2025, the Navi Mumbai airport holds strategic importance for the Adani Group. Chief Executive Officer of Adani Airports Holdings, Arun Bansal, affirmed that the group will finance the initiative internally, leveraging the support of Adani Enterprises Ltd. With an expanding portfolio of airports, including the recent acquisition of Mumbai and the upcoming Navi Mumbai Airport, the Adani Group envisions accommodating 250 to 300 million passengers by 2040.

ALSO READ: OpenAI investor Vinod Khosla forecasts AI-induced economic deflation over the next 25 years