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Adani Enterprises sign concession agreement with AAI

Apurva Joshi
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Adani Enterprises sign concession agreement with AAI

Adani Enterprises’ three wholly-owned subsidiaries namely, Adani Ahmedabad International Airport Limited, Adani Lucknow International Airport Limited and Adani Mangaluru International Airport Limited have signed a concession agreement today with Airports Authority of India (AAI) for the operations, management and development of Ahmedabad (Gujarat), Lucknow (Uttar Pradesh) and Mangaluru (Karnataka) airports, respectively.

The concession period is of 50 years from the commercial operation date.

Last week, Adani Defence & Aerospace and Airbus India had signed a Memorandum of Understanding (MoU) at DefExpo 2020 to leverage synergies in aerospace and civil aviation sector. Airbus and Adani will explore opportunities for collaboration in the area of aircraft services for Indian and South Asian market. Airbus' Global Services forecast envisages the Indian aircraft services market to grow to US $6.3 billion by 2025.

Adani Group is an integrated industrial conglomerate in India with six publicly-traded companies having a market leadership position across Sea Ports, Airports 8 Logistics, Energy (Generation, Transmission and Distribution), Gas Terminals and Distribution and Defense 8 Aerospace.

On Friday, Adani Enterprises surged 2.8 per cent to Rs 258.50 from its previous close of Rs 251.45 on BSE.

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