Adani Group to invest Rs 60,000 cr. in aviation sector

The Adani Group will invest Rs 60,000 crore over the next ten years to develop its airports into aviation hubs and commercial attractions for city residents. At present, the Group operates seven airports in the country and has one under construction in Navi Mumbai. It will invest Rs 30,000 crore in enhancing airport terminals and airside facilities at group airports in the next five years. This will be in addition to the Rs 18,000 crore it has already invested in building the first phase of Navi Mumbai airport. These would include the construction of hotels, multiplexes and other facilities. The Group expects significant revenue upside from commercial development as aeronautical tariffs are regulated, and expects commercial investments to materialise over ten years depending on various approvals, as per a report.