Adani commits ₹10,000-crore capex over seven years for airports business

Adani Enterprises Ltd (AEL) has committed an investment of ₹10,000 crore for its airports venture through its subsidiary, Adani Airports Ltd, to be made over seven years.

By April 2020, the company will take over three of the six airports it had won bids for, and make an upfront payment of approximately ₹1,600 crore, with an additional ₹2,000 crore to be made later.

“We have committed ₹10,000 crore over seven years for the airports business. We will make a total upfront payment of ₹3,600 crore for these six projects and we will undertake capex of ₹6,000 crore over seven years,” said Jugeshinder Singh, CFO, AEL, during a results con-call on Thursday.