Adani group seeks Rs 30,000 crore for Navi Mumbai airport's second terminal: Report

The Navi Mumbai airport was inaugurated by Prime Minister Narendra Modi on Wednesday, with the second terminal likely to be commissioned by 2029

Adani group is in talks with top global and domestic institutions to raise Rs 30,000 crore for setting up second terminal of the newly opened Navi Mumbai International Airport, a report by Mint said on October 9.

The Gautam Adani-led group is in discussion with major entities, including the State Bank of India, HDFC Bank, Singapore’s Temasek Holdings and Japan’s Mitsubishi UFJ Financial Group and Mizuho Financial, the report said.

The move comes as Mumbai’s second international airport is yet to see a commercial flight take off. Adani Airports Holdings Ltd AAHL, which is the arm of the Ahmedabad-based group, leading the fundraising activity, with approximately Rs 10,000 crore likely to be finalized in the next 6 months, Mint said.

Moreover, the rest of the funds will be finalized in the next 12 to 18 months, the paper said.

The funding activity will see the group firm raise debt and some equity infusion by the promoters.

The Navi Mumbai airport was inaugurated by Prime Minister Narendra Modi on Wednesday, with the second terminal likely to be commissioned by 2029.