Adani Enterprises commits Rs 10,000-crore capex for airports business

Adani Group’s flagship firm, Adani Enterprises Limited (AEL) has committed capital expenditure (capex) worth roughly Rs 10,000 crore for its airport business to be incurred over the next 7 years. AEL has also committed an investment of Rs 7,000 crore for coal and mining business during the current fiscal 2019-20.

Part of its “next set of businesses”, as stated by Adani Group chairman Gautam Adani, airport management is being run by AEL’s subsidiary Adani Airports Ltd which won bids for 6 airports recently. Of these, three airports including Ahmedabad, Lucknow and Mangaluru of Airports Authority of India have been approved by cabinet to be leased to AEL in a public private partnership (PPP) mode. Two other airports – Guwahati and Jaipur – are awaiting state approvals, while the one in Trivandrum is in litigation with the Kerala state government.