Now on Adani Group to manage country's busiest Mumbai International Airport

Mumbai: With the takeover of the Mumbai International Airport, the second busiest airport by both passenger and cargo traffic in the country, from the GVK group, the billionaire Gautam Adani-led Adani Airport Holdings has owned contracts for the management and development of 25 per cent of the country's airports.

Adani Airport Holdings Limited, a wholly-owned subsidiary of the multinational conglomerate Adani Enterprises Limited, now has a total of airports in its management and development portfolio.

In a statement released by the Adani Group, the Group has received necessary approvals from the central government, Maharashtra government, as well as the City and Industrial Development Corporation (CIDCO) of Maharashtra, to run the Mumbai International Airport.

The new acquisition is expected to further push the infrastructure conglomerate to interlink its B2B and B2C business.

The Adani Group will begin the construction of the Navi Mumbai International Airport next month and complete the financial closure in the next 90 days, and the airport will 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 Gautam Adani, Chairman, Adani Group.