Adani Enterprises signs concession agreement with AAI for 3 airports including Thiruvananthapuram

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In a regulatory filing, the company said that the concession period is 50 years from the commercial operation date.

Thiruvananthapuram international airport | Photo: Vivek R. Nair|Mathrubhumi

New Delhi: Adani Enterprises on Tuesday said that it has signed the concession agreement with the Airports Authority of India (AAI) for operating and developing the Jaipur, Guwahati and Thiruvananthapuram airports.

In a regulatory filing, the company said that the concession period is 50 years from the commercial operation date.

"Adani Jaipur International Airport Limited, Adani Guwahati International Airport and Adani Thiruvananthapuram International Airport, wholly-owned subsidiaries of the company have signed the concession agreement on January 19, 2021 with Airports Authority of India for the operations, management and development of Jaipur, Guwahati and Thiruvananthapuram airports respectively," it said.

The agreement was signed by Airports Authority executive director N.V. Subbarayudu and Ben Zandi, CEO (airports), Adani Enterprise Ltd. The announcement has boosted the shares of the company on Tuesday. At 1.53 p.m., its shares on the BSE were Rs 525.20, higher by Rs 17.95 or 3.54 percent from its previous close.

The airports have been handed over to Adani Group on the condition that they should be taken over within three months. Adani Group will be responsible for the operation, maintenance and development of the airports.

This marks the end of the controversies regarding the airport. Earlier, a legal battle over privatising the airport had reached the Supreme Court.

(With inputs from IANS)

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