Ahmedabad Airport Concession Agreement

Sh A.K Verma, APD, AMD exchanged symbolic keys in accordance with the concession contract and future development. Adani Enterprises announced on Friday that it has signed concession agreements with the Airports Authority of India (AAI) for the operation, management and development of Ahmedabad, Lucknow and Mangaluru airports. The Adani Group is pre-activated in the civil aviation sector by strategically acquiring airport development and maintenance mandates throughout the country. This step is supported by the group`s desire to improve the existing airport infrastructure in India to the standards of the best class and thus offer customers the most definitive airport experience. As a result of the airports offer from the Airports Authority of India (AAI), AEL proved to be the best supplier for the six airports notified to privatization: last August, the Adani Group added another source of revenue by entering the airport sector and creating a new company called Adani Airports Ltd. Passenger growth of 17% for 6 airports and India traffic growth of 12% (5 years) New Delhi: The Aviation Authority of India (AAI) on Sunday leased Lucknow Airport to the Adani Group at midnight for a period of 50 years. The Ministry of Civil Aviation (MoCA) has signed concession contracts with Adani Group for the resumption of services at Ahmedabad, Lucknow and Mangaluru airports The objective of the new company is to acquire, promote, operate, maintain, develop, plan, build, modernize, modernize, renovate, expand and manage airports in India and abroad. New Delhi: The Ministry of Civil Aviation (MoCA) has finally signed three Memoranda of Understanding (MoUs) with the three Adani companies regarding the takeover of Ahmedabad, Lucknow and Mangalore airports until November 7. Adani Ahmedabad International Airport Limited, Adani Lucknow International Airport Limited and Adani Mangaluru International Airport Limited signed moUs with MoCA on 21 October at the headquarters of the Airports Authority of India (AAI).

As part of the agreement, the subsidiaries of the Adani Group will take management control of the airports for 50 years. In November 2018, the government authorized the privatization of these six airports under the Airports Authority of India, under the public-private partnership model. AAI and the concessionaires at Ahmedabad, Lucknow and Mangaluru airports will meet the conditions precedent set out in the concession agreements. . . .

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