Adani Group wins bid to manage five non-metro airports

Groupe ADP

The Airports Authority of India’s (AAI) bidding process for the privatization of six non-metro airports was completed in a record time according to the body’s legal advisers.

“Commencing from the date of cabinet approval in November 2018, the transaction was completed in late February,” said J Sagar Associates (JSA) partner Ashish Suman, who advised AAI.

Adani Group emerged as the winning bidder, taking over the operations, management and development of Thiruvananthapuram, Lucknow, Mangaluru, Ahmedabad and Jaipur airports. Adani also emerged as the highest bidder for Guwahati airport. However, the privatization of the airport has been stayed by Gauhati High Court.

The concessionaire was selected following an international competitive bidding process. There were nine bidders in the fray, including domestic players GMR Group and international investors Zurich Airport International and AMP Capital.

You must be a subscribersubscribersubscribersubscriber to read this content, please subscribesubscribesubscribesubscribe today.

For group subscribers, please click here to access.
Interested in group subscription? Please contact us.