Overview
- Bloomberg, citing people familiar with the matter, reports a roughly $15 billion, five-year program to raise Adani’s airport network capacity to 200 million passengers annually.
- Projects include a new runway along with additional terminals and taxiways at Navi Mumbai International Airport, which is slated to open on December 25.
- Capacity upgrades are also planned at Ahmedabad, Jaipur, Thiruvananthapuram, Lucknow and Guwahati, part of the six airports leased from the Airports Authority of India in 2020.
- About 70% of the planned funding would be raised through debt over five years, with the balance coming from equity, according to the report.
- The plan targets India’s projected growth toward roughly 300 million annual passengers by 2030 to strengthen the airports unit’s IPO case, and the quoted 60%+ capacity lift excludes the new 20 million at Navi Mumbai and 11 million at Guwahati expected to come online this month.