From being famous for operating ports, to now foraying into airports, the Adani group has emerged as the highest bidder for five of six airports put up by the government to run on a public-private partnership (PPP) basis.
The Adani Group outbid a slew of national and international competitors such as GMR, Zurich International Airports, Cochin International Airports, AMP Capital, NIIF etc. and has won the right to upgrade and operate the airports of Ahmedabad, Jaipur, Lucknow, Thiruvananthapuram and Manglore.
Mounting aggressive bids, far greater than its competitors, the Ahmedabad based group offered the highest payment for passenger fee to Airports Authority of India (AAI) and will get to manage these airports for 50 years.
Unlike previous models, this time, the revenue sharing model will see the Adani Group offering the Airports Authority a share of revenue per passenger, per month, and bids were given in accordance with this model.
This is the central government’s first privatisation attempt in 13 years after the GMR and GVK Groups won the right to manage Delhi and Mumbai airports under the UPA Government in 2006.
While Adani Enterprises was deemed as the highest bidder, government sources have said that the final announcement would be made after clearance from the Union Cabinet.
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