Adani Group to pump in Rs 1,500 crore to develop Mundra airport
The company plans to invest Rs 1,500 crore to develop a full-fledged commercial airport with an integrated cargo and aerospace operations after it received environment clearance for the project.
Moneycontrol News
Adani Group, which operates the country’s largest commercial port at Mundra, is planning to develop an international airport in the Gujarat town by upgrading the existing airstrip, reports Business Standard.
The company plans to invest Rs 1,500 crore to develop a full-fledged commercial airport with an integrated cargo and aerospace operations after it received environment clearance for the project. The company will operate the airport through its subsidiary Mundra International Airport Private Ltd (MIAPL).
Adani Group wants to take advantage of the corporate traffic in Mundra which is rapidly developing as a business hub. Private players are allowed to own 100 percent of the airport after the government liberalised the aviation policy in 2008 without any equity participation from Airports Authority of India (AAI).
Ahmedabad is the only major airport in Gujarat which has direct connectivity to major places across the globe and the company wants to cash in on the large expat population by providing them direct connectivity to the western part of the state.
The airport would be able to support large passenger aircraft like Boeing 747 and Airbus A350 and there are plans to develop it as a hub for cargo operations and maintenance. Central agencies will supervise the immigration, customs, navigation and security function at the airport.
