Adani reaches financial closure of Navi Mumbai International Airport

Adani Enterprises said that its subsidiary Navi Mumbai International Airport Private Ltd (NMIAL) has reached financial closure for a new international airport project of the same name at Navi Mumbai.

The milestone was reached after the signing of financing documents with the State Bank of India (SBI).

According to Adani Enterprises, SBI had underwritten 100% of the debt requirement of INR 12,770 crores for the Navi Mumbai International Airport project.

Adani Enterprises reaches financial closure of Navi Mumbai International Airport project. Photo courtesy of Rudy and Peter Skitterians from Pixabay.

Jeet Adani — Director of NMIAL said: “The Adani Group’s focus is to create and provide best-in-class airport infrastructure and allied services to the consumer.

“We aim to converge India’s biggest cities with other surrounding cities and towns in a hub and spoke model. Given the central role airports will play in the future, we intend to develop an economic ecosystem that has airports and airport users at its core.

“With this facility from the SBI, we have moved a step closer to providing Mumbai with another landmark utility.”

The Navi Mumbai International Airport project was taken over pursuant to Adani Enterprises’ acquisition of Mumbai International Airport Ltd (MIAL) through Adani Airport Holdings (AAHL) in July 2021.