Of the ₹ 28,625 crore (approximately $991 million) invested in the Navi Mumbai airport so far, Adani has made an equity infusion of ₹ 1,710 crore. It has also raised ₹ 2,900 crore in term loans from a consortium of banks, while an additional ₹ 3,655 crore equity came from the City and Industrial Development Corporation of Maharashtra Ltd (Cidco), a city planning agency in Maharashtra, these people said. Adani and Cidco will invest an additional ₹1,511 crore as the project moves ahead.
"The due diligence by the banks has been recently completed, which was followed by the investment," said one of the two people.
On July 19, while addressing an annual general meeting of shareholders, group chairman Gautam Adani said the Navi Mumbai airport will achieve operational readiness by December 2024.
This story is from the October 30, 2023 edition of Hindustan Times.
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This story is from the October 30, 2023 edition of Hindustan Times.
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