Adani Airports clinches USD 750 mn global financing to power next phase of growth

Ahmedabad (Gujarat) [India], June 4 (ANI): Adani Airports has raised USD 750 million via External Commercial Borrowings (ECB) from a consortium of international banks, says the company in a statement on Wednesday. The transaction was led by First Abu Dhabi Bank, Barclays PLC, and Standard Chartered Bank.

The proceeds will be used to refinance existing debt, invest in infrastructure upgrades, and capacity expansion across the six airports operated by the group viz. Ahmedabad, Lucknow, Mangaluru, Jaipur, Guwahati, and Thiruvananthapuram.

The non-aeronautical businesses like Retail, F&B, Duty Free and services across the airport network will be scaled up.

As per the company, Adani Airports has served 94 million passengers in FY 2024-25 with an overall capacity of 110 million passengers, further, it aims to triple capacity to 300 million passengers per annum by 2040 through phased development.

As part of this roadmap, the Navi Mumbai International Airport is expected to be operational shortly, adding 20 million passengers in the first phase, with capacity expanding up to 90 million annually in a phased manner, significantly boosting the Mumbai region's aviation infrastructure.

"The trust placed in us by leading global financial institutions underscores the long-term value and potential of India's aviation infrastructure. AAHL is well on its path to deliver exceptional customer experiences, leveraging technology for seamless operations, and prioritising sustainability and community engagement across its airport network," said Arun Bansal, CEO of AAHL.

He further added, "As we continue our journey, AAHL remains committed to being the Gateway to Goodness, delivering customer-centric solutions and building world-class airport infrastructure that sets global benchmarks in service and sustainability".

Adani Airports was incorporated in 2019 as a 100 per cent subsidiary of Adani Enterprises Ltd, the flagship company of the Adani Group.

In line with its vision to be the global leader in integrated infrastructure and transport logistics, the Adani Group made its maiden venture into the airports sector by emerging as the highest bidder for the operation, management, and development of the above mentioned six airports and have signed concession agreements with the Airports Authority of India to develop all six airports. (ANI)

(The story has come from a syndicated feed and has not been edited by the Tribune Staff.)