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Adanis sew up funds for airport projects

‘We are focussed on delivering high quality infrastructure access to our consumers both through physical and digital channels’
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Our Special Correspondent   |   New Delhi   |   Published 10.05.22, 02:44 AM

The Adani group on Monday said it has raised $250 million from a consortium of Standard Chartered Bank and Barclays Bank to be repaid in three years.

The funds will be invested to build capital assets at the six airports it manages under a public private partnership. The group has an option to raise another $200 million under the existing facility, it said in a statement.

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Adani Airport Holdings Ltd (AAHL), a wholly owned subsidiary of Adani Enterprises Ltd, runs seven airports — Mumbai, Ahmedabad, Guwahati, Jaipur, Lucknow, Mangalore and Thiruvananthapuram.

“We are focussed on delivering high quality infrastructure access to our consumers both through physical and digital channels,” a Adani Airports Holding Limited (AAHL) spokesperson said.

Last week, Mumbai International Airport Limited raised $750 million for refinancing and capex.

The group said that the first phase of its management plan has been put in motion with funds tied up for operational and under-construction airports.

While the Adani group took over Mumbai airport from GVK last year, it won the bid to operate six airports from the Airport Authority of India (AAI) on a 50-year lease. The group is also developing the Navi Mumbai airport.

The Adanis made a private placement of $750 million with Apollo Global for the Mumbai airport. It has also tied up with the domestic banks for a $1.74 billion loan for the Navi Mumbai airport.

“With this, AAHL has tapped three different pools of capital accumulating to $2.74 billion,” an official statement said.

Adani Airports said it would now access the capital markets and long-term capital for infrastructure development. The airport network of the Adanis comprises eight airports that handles 23 per cent of traffic and 30 per cent of cargo.



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