Wednesday 26 February 2020
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business-standard - 12 days ago

Adani signs concession agreement with AAI for 3 airports

Adani Enterprises said on Friday it has signed concession agreements with Airports Authority of India (AAI) for operations, management and development of Ahmedabad, Lucknow and Mangaluru airports.The concession period is 50 years from the commercial operation date, according to an official statement.The pacts were signed by its subsidiary companies Adani Ahmedabad International Airport Ltd, Adani Lucknow International Airport Ltd and Adani Mangaluru International Airport Ltd.In August last year, the Adani Group added another revenue stream by entering the airports space and set up a new company called Adani Airports Ltd.The new company s aim includes acquiring, promoting, operating, maintaining, developing, designing, constructing, upgrading, modernising, renovating, expanding and managing airports in India and abroad.A year ago, the Adani Group had won a mandate to run all six government-owned airports that were put up for privatisation.It bagged a 50-year contract for the operation,

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