National

SBI Underwrites Entire Debt Of Rs 12,770 Crores For Adani’s Mumbai Airport

New Delhi: With the execution of financing documents with the State Bank of India, Navi Mumbai International Airport Private Ltd. (NMIAL), a subsidiary of Adani Enterprises Limited (AEL), announced on Tuesday that the greenfield international airport project in Navi Mumbai, Maharashtra, has reached financial closure (SBI).

“The SBI has underwritten the entire debt requirement of ₹12,770 crore for the NMIA Project,” NMAIL said in a statement.

“The Adani Group’s focus is to create and provide best-in-class airport infrastructure and allied services to the consumer,” Jeet Adani, Director, NMIAL said.

“We aim to converge India’s biggest cities with other surrounding cities and towns in a hub and spoke model. Given the central role airports will play in the future, we intend to develop an economic ecosystem that has airports and airport users at its core. With this facility from the SBI, we have moved a step closer to providing Mumbai with another landmark utility,” he added.

“The achievement of financial closure signifies the commitment of the Adani Group to mobilise the required resources and complete, within the set timelines, the NMIA Project which was taken over pursuant to the acquisition of Mumbai International Airport Ltd. (MIAL) by the Group through Adani Airport Holdings Ltd. (AAHL), in July 2021,” NMAIL added.

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National

Russian Foreign Minister Sergey Lavrov To Meet S Jaishankar Today

Aleesha Sam

New Delhi: Russian Foreign Minister Sergey Lavrov, who is on a two-day official visit to India, is expected to meet and hold talks with External Affairs Minister S Jaishankar on Friday.

Lavrov arrived in India on Thursday. This is the first trip of Lavrov to India since Moscow launched a “special military operation” in Ukraine on February 24.

Lavrov’s visit comes soon after China’s foreign minister Wang Yi visit to India last week and ahead of the 2+2 dialogues set to be held between India and the US on April 11.

The Russian Foreign Minister reached New Delhi after his two-day visit to China.

On Wednesday, in China, Lavrov held talks with his Chinese counterpart Wang Yi and both sides pledged to strengthen bilateral ties. Lavrov informed the Chinese side of the Russia-Ukraine talks, saying Russia is committed to easing the tensions, continuing peace talks with Ukraine, and maintaining communication with the international community.

Russian Foreign Minister participated in two multinational meetings on Afghanistan along with representatives from Pakistan, Iran, Tajikistan, Turkmenistan and Uzbekistan.

Lavrov also held meetings with representatives from China and Pakistan and attended a separate meeting of the “Extended Troika” with special Afghan envoys from China and the US.

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