Adani group to create world class facilities at the Navi Mumbai airport

Wednesday, March 30, 2022

Adani Enterprises Ltd’s subsidiary, Navi Mumbai International Airport Private Ltd has achieved Financial Closure for the greenfield international airport project at Navi Mumbai, Maharashtra. The State Bank of India is going to help with the finances and has under written the entire debt requirement of INR 12,770 Cr for the entire project.

Director, NMIAL, Mr Jeet Adani, has said that they aim to converge India’s biggest cities with other surrounding cities and towns in a hub and spoke model. They aim to converge India’s biggest cities with other surrounding cities and towns in a hub and spoke model. They intend to intend to develop an economic ecosystem that has airports and airport users at its core.

The achievement of financial closure signifies the commitment of the Adani Group to mobilise the required resources and complete, within the set timelines, the NMIA Project which was taken over pursuant to the acquisition of Mumbai International Airport Ltd by the Group through Adani Airport Holdings Ltd in July 2021.

SBI Capital Markets Ltd acted as the financial advisor to the SBI and Saraf & Partners Law Offices acted as the Lenders’ Legal Counsel. Cyril Amarchand Mangaldas acted as the legal advisor to NMIAL.

Navi Mumbai International Airport Private Limited is a special purpose vehicle established for the development, construction, operation and maintenance of the greenfield international airport project at Navi Mumbai, Maharashtra, on a Design, Build, Finance, Operate and Transfer basis.

NMIAL is owned by Mumbai International Airport Limited (“MIAL”) (74% shareholding) and City and Industrial Development Corporation of Maharashtra Limited. CIDCO, a Government of Maharashtra undertaking is also the Concessioning Authority for the Project.

The Project is proposed to be developed in multiple phases having an ultimate capacity of 60 Million Passengers per annum. In initial phase, NMIAL is implementing passenger capacity of 20 MPPA and 800,000 tons per annum of cargo handling capacity, expected to be completed by December 2024.

In line with its vision to be the globally admired leader in the integrated infrastructure and transportation businesses, Adani Group made its maiden venture into the airports sector by emerging as the highest bidder for the operation, management & development of six airports viz. Ahmedabad, Lucknow, Mangaluru, Jaipur, Guwahati & Thiruvananthapuram and signed the Concession Agreement for all 6 airports with Airports Authority of India. Out of six CA already signed, Adani Group has already taken over the operation & management of three airports, Ahmedabad, Lucknow & Mangaluru.

To hold the entire airport business of the Group, AAHL was incorporated on August 02, 2019, as a 100% unlisted subsidiary of Adani Enterprises Limited, the flagship company of the Group.

AAHL holds 73% in Mumbai International Airport Private Limited, which in turn holds 74% in NMIAL. With eight airports in its management and development portfolio, AAHL is now India’s largest airport infrastructure company, accounting for 25% of airport footfalls and controlling 33% of India’s air cargo traffic.

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