Adani group, Adani group Ahmedabad airport, Ahmedabad airport operations, airport privatisation, adani thiruvananthapuram airport

Airports to be handled by Adani from October 31, November 2, and November 11

Business Finance Government World

Airports play an important in a nation’s economy. And in India too, many airports are there both national as well as international. Government of India owns majority of them. But recently, privatization of some of them occured. When an industry is not able to generate revenue to cover the cost, the government seeks to privatize it. And bids happen for that particular purpose. In this case, also, bids occurred, and Adani Group won all the bids of airports.

According to recent news, the Adani group will be getting hold of these airports very soon. The Adani Group will be having control of the operations, management, and development of the airports. These are at Mangaluru, Lucknow, and Ahmedabad. And they will get it on October 31, November 2, and November 11, respectively. Also, according to AAI they have signed MoUs (memorandums of understanding) with Adani. 3 entities of adani signed these. With this they will get services such as customs, immigration, and security at the above mentioned three airports.

Official Statement for Airports

“The AAI and concessionaires of Ahmedabad, Lucknow and Mangaluru airports will be completing conditions precedents as prescribed in the concession agreements and the concessionaires will be taking over the operations, management, and development of airports as under Mangaluru airport: 31.10.2020; Lucknow airport: 02.11.2020; Ahmedabad airport: 07.11.2020,” the AAI press release said.

In February, 2019, biddings for them happened. For six airports this bidding was there. These six were Lucknow, Ahmedabad, Jaipur, Mangaluru, Thiruvananthapuram, and Guwahati. And after different rounds, Adani won all of them.

About Adani Group who will have control of the Airports

Adani Group is an Indian worldwide aggregate organization settled in Ahmedabad, Gujarat. It was established by Gautam Adani in 1988. And it is a product exchanging business, with the lead organization Adani Enterprises Limited (beforehand Adani Exports Limited). Gautam Adani is the executive. The Group’s differing organizations incorporate energy, assets, coordinations, agribusiness, land, monetary administrations, protection and aviation. The gathering has yearly income of over US$13 billion with tasks at 70 areas in 50 nations. It is India’s biggest port engineer and administrator with ten ports and terminals including Mundra Port, its biggest. It also has a joint endeavor with Wilmar International in Singapore. With this the Group co-possesses India’s biggest palatable oil brand. And the brand name is Fortune.