On Tuesday, the Adani Airport Holdings Limited (AAHL) officially took over the control of Mumbai International Airport (MIAL), ending the management of previous GVK group.
Adani Group did so by acquiring a whopping 74% stake in Mumbai International Airport Limited (MIAL) while Airports Authority of India holds the remaining 26%.
Earlier in the year, AAHL, a subsidiary of Adani Enterprises, had acquired a 23.5 percent stake in the Mumbai International Airport (MIAL) from ACSA Global (South Africa) and Bid Services Division (Mauritius), for Rs 1,685.25 crore (226,098,220 USD).
Later, Adani Group acquired GVK Airport Developers Ltd's 50.50% stake as well as to become the country's largest airport infrastructure company.
Adani Group Chief Gautam Adani took it to the twitter and said,
We are delighted to take over management of the world class Mumbai International Airport. We promise to make Mumbai proud. The Adani Group will build an airport ecosystem of the future for business, leisure and entertainment. We will create thousands of new local jobs.
We are delighted to take over management of the world class Mumbai International Airport. We promise to make Mumbai proud. The Adani Group will build an airport ecosystem of the future for business, leisure and entertainment. We will create thousands of new local jobs.
— Gautam Adani (@gautam_adani) July 13, 2021
In addition , the 2nd Commercial airport in Mumbai will be AAHL's target, company plans to start the construction of the Navi Mumbai International Airport next month and expect the airport to be commissioned in 2024.
"Our airport expansion strategy is intended to help converge our nation's tier 1 cities with the tier 2 and tier 3 cities in a hub and spoke model. This is fundamental to enabling a greater equalization of India's urban–rural divide, as well as making international travel seamless and smooth,'' said Mr Gautam Adani, Chairman, Adani Group.
Recently, Adani Group had taken over the management of Lucknow, Jaipur, Guwahati, Ahmedabad, Thiruvananthapuram, and Mangaluru airports through the public-private partnership (PPP) model.
