Adani Group Investment: Adani Group is planning to invest Rs 1 lakh crore in its airports business in the next five years. Jeet Adani, younger son of industrialist Gautam Adani and director of Adani Airports, said in an interview with ‘PTI-Bhasha’ before the start of commercial operations at Navi Mumbai International Airport on December 25, an investment of Rs 1 lakh crore will be made in the airport sector in the next five years.
Navi Mumbai International Airport is the latest addition to the growing airport segment of the Adani Group. This will further strengthen its presence in India’s aviation infrastructure. Adani Group has 74 percent stake in the airport which is being developed by Navi Mumbai International Airport Limited (NMIAL). With this, commercial operations will start from December 25.
Adani Group operates 6 other airports
Apart from the two airports in Mumbai, Adani Group operates six other airports in Ahmedabad, Lucknow, Guwahati, Thiruvananthapuram, Jaipur and Mangaluru. The group is also planning to bid aggressively for the next round of airport privatization.
“As a strong believer and optimistic investor in this industry, we will take a completely aggressive approach in bidding for all 11 (airports) in the next round,” Jeet Adani said.
Regarding investments in maintenance, repair and operations (MRO) and flight simulation training centers (FSTC), he said, “It is too early to say anything as we are still in the process of finalizing a long-term strategy.” Only then will we fix a specific figure for it. However, he said, “Ultimately, we are fully involved in this and we want to continuously increase our expertise and capacity.”
Jeet Adani’s statement
Jeet Adani said that India’s aviation sector (which includes airports and airlines) can maintain a growth rate of 15-16 percent for the next decade or more. He said, the Indian aviation industry as a whole can grow at an annual rate of 15-16 percent continuously for the next 10-15 years.
Citing the low rate of per capita air travel compared to China, he said, even if we reach China’s level, it means the entire region will have to grow at many times the rate of cities.
Said this about Navi Mumbai International Airport
Describing the development prospects as long-term, he said, there is a very long path of development before us. All indications indicate that this can be accomplished. Referring to capacity constraints at Mumbai’s Chhatrapati Shivaji Maharaj International Airport, he said, Mumbai airport was facing shortage of services since 2016 and was not able to meet the additional demand.
He said, with the commencement of Navi Mumbai airport, we will finally get some relief from this problem. Describing the commissioning of Navi Mumbai International Airport as a historic moment, he said, in the context of Indian aviation, this is a very important moment.
Also read: Planning to buy a car? Lowest interest rates are available on car loan in these banks, see list
Khanderao Deshmukh aims to guide job seekers by delivering accurate, timely, and easy-to-understand information, helping them secure stable government careers.
