Left Menu
Development News Edition

AAI signs concession agreements with Adani Group for 3 airports

The Airports Authority of India (AAI) has signed three concession agreements with Adani Enterprises for operations, management and development of Ahmedabad, Lucknow and Mangaluru airports.


AAI signs concession agreements with Adani Group for 3 airports
The agreements were signed by BK Mehrotra, Executive Director, Strategic Initiative Unit on behalf of AAI and Behnad Zandi, Chief Executive Officer - Airports Adani Enterprise Ltd. Image Credit: ANI

The Airports Authority of India (AAI) has signed three concession agreements with Adani Enterprises for operations, management and development of Ahmedabad, Lucknow and Mangaluru airports. In a statement, the AAI said that the agreements were signed on Friday with the group's subsidiary companies, namely, Adani Ahmedabad International Airport Ltd, Adani Lucknow International Airport Ltd, and Adani Mangaluru International Airport Ltd.

The concessionaires are required to take-over the three airports after fulfilling certain conditions precedents within 180 days from February 14 and will operate, manage and develop the airports for the next 50 years, in accordance with the terms and conditions specified in the Concession Agreements. The agreements were signed by BK Mehrotra, Executive Director, Strategic Initiative Unit on behalf of AAI and Behnad Zandi, Chief Executive Officer - Airports Adani Enterprise Ltd at Corporate Headquarters of AAI in the presence of Chairman, AAI, Board Members and other senior officials of AAI and Adani Enterprises Limited.

An International competitive bidding process for PPP transaction for six airports -- Ahmedabad, Lucknow, Mangaluru Guwahati, Jaipur, and Thiruvananthapuram -- was initiated by the AAI during December 2018 and Adani Enterprises Limited had emerged as the highest bidder for these airports. During July 2019, the Central Government conveyed the approval for the award of concession to the Highest Bidder for Ahmedabad, Lucknow and Mangaluru airports. In respect of the remaining three airports, the approval of the Central Government is awaited.

The concessionaires shall pay AAI a per passenger domestic fee of Rs 177, Rs 171 and Rs 115 for Ahmedabad, Lucknow and Mangaluru Airports respectively (both embarking and disembarking passengers) and in case of international passengers, the Concessionaire will pay two times of per passenger domestic fee. Further, the per passenger fee will be revised annually taking into account of the variation in the CPI (IW). "The concession fee that AAI would receive will be utilized for the maintenance and development of other brownfield airports and also the development of RCS -UDAN and other Greenfield airports across the country," the statement read. (ANI)

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

Download The Devdiscourse News App for Latest News.


TRENDING

OPINION/BLOG/INTERVIEW

Top 10 Fake News, Myths and Realities on 2019 Novel Coronavirus COVID 19

With nearly 1500 deaths by January 14 and around 65,000 infections in China, the Novel Coronavirus 2019 has become one of the worst health epidemics of the 21st Century. However, 8,573 people have been cured but the rumor mongers are a...

Handling fake news Infodemic in time of Coronavirus epidemic

Social media has provided a platform where everybody can disseminate his her views without any supervision. Its excellent if the message is genuine but misinformation is equally disastrous. Health is such a topic where every Tom and Harry c...

Sentiment Analysis on Budget 2020: Long shot for solution to economic worries?

Industries and individuals alike had high expectations from the government to take tangible steps but the budget 2020 seems to have failed expectations....

How can technology help the future of mobility?

More than a billion people or one-third of the global rural population lacked access to all-season roads and transport services in 2016, subsequently hindering the socio-economic development....

Videos

Latest News

NCLAT gives approval to JSW Steel to acquire Bhushan Power

The National Company Law Appellate Tribunal on Monday allowed JSW Steel to acquire of Bhushan Power Steel Ltd for Rs 19,700 crore by providing it immunity from prosecution. A two-member bench headed by Chairman Justice S J Mukhopadhaya, sa...

Australia to evacuate more than 200 citizens from cruise ship quarantined at Japan port

Australia will evacuate more than 200 of its citizens on board a coronavirus-stricken cruise ship being held under quarantine in the Japanese port of Yokohama, Prime Minister Scott Morrison said on Monday. Morrison said the passengers will ...

SC directs Centre to grant permanent commission to women officers in Army within 3 months

The Supreme Court on Monday directed the Centre to grant permanent commission to all women officers in the Army within three months and said there will not be any absolute bar on giving them command postings. A bench headed by Justice D Y C...

Kangana Ranaut looks captivating as fighter pilot in 'Tejas'

Makers of Kangana Ranaut starrer Tejas on Monday unveiled the first look of the actor as a daring Indian Air force fighter pilot. Kangana looks captivating as a pilot as she poses with a fighter jet in the background. Dressed in full flying...

Give Feedback