Adani group signs concession agreement with AAI for three airports

Adani Group has signed a concession agreement with AAI for Jaipur, Guwahati and Thiruvananthapuram airports for a lease period of 50 years.

New Delhi: The Adani group on Tuesday announced that it has signed a concession agreement with the Airports Authority of India (AAI) for three airports of Jaipur, Guwahati and Thiruvananthapuram for a lease period of 50 years.

The two stakeholders had signed the letter of agreement for the three airports in September, 2020.

"We are pleased to inform you that Adani Jaipur International Airport Limited, Adani Guwahati International Airport Limited and Adani Thiruvananthapuram International Airport Limited, wholly-owned subsidiaries of the Company have signed the Concession Agreement on 19th January, 2021 with Airports Authority of India for the Operations," the company said in a regulatory filing on Wednesday.

"The agreements were signed in presence of AAI chairman and senior officials of AAI and Adani Enterprises Ltd. signed concession agreements of Jaipur, Guwahati and Thiruvananthapuram Airports were exchanged between AAI ED N V Subbarayudu and Adani Airports CEO Behnad Zandi," the AAI said in a statement.

"The concession fee that would be received by AAI after leasing out six airports will be used for the maintenance and development of other brownfield airports and also for further development of RCS and greenfield airport throughout the country," AAI added.

The concession period is 50 years from the commercial operation date, the company added in the filing.

The Adani Group had won the operations and development rights from six airports namely Ahmedabad, Lucknow, Bengaluru, Thiruvananthapuram, Jaipur and Guwahati airports in February 2019.