Concession Agreement Adani

» Posted by on Dec 5, 2020 in Uncategorized | 0 comments

“It is expected that the concession contract for the three airports can be signed within the next two months,” a source said. On 14 February, the IAA signed concession contracts with the Adani Group for the operation, management and extension of Mangaluru, Lucknow and Ahmedabad airports. The Adani Group signed concession contracts with the Airports Authority of India (AAI) on Friday for the management and development of the airports of Ahmedabad, Lucknow and Mangaluru. The agreement was signed between AAI and subsidiaries 100% created by the group for the operation of these airports. Under the agreement, the subsidiaries of the Adani Group will manage the airports for 50 years. MoUs are linked to the provision of routine airport services such as customs, immigration, plant and animal quarantine, health, mgen and security (hereinafter reserve services). At the same time, AAI has signed three separate CNS-ATM agreements with these companies for the provision of DEAE services at Ahmedabad, Lucknow and Mangluru airports. ATM CNS services are communications, navigation, surveillance and air traffic management services. The necessary processes prior to the signing of the concession agreement have begun according to the sources, including security clearance, etc. The Ministry of Civil Aviation (MoCA) has entered into concession contracts with Adani Group for the acquisition of services at the airports of Ahmedabad, Lucknow and Mangaluru at both AAI and dealerships of Ahmedabad, Lucknow and Mangaluru Airports. Adani will take Mangalore Airport on 31 October, Lucknow Airport on 2 November and Ahmedabad Airport on 7 November.

With the acquisition of 74% of Mumbai Airport (MIAL) shares in September, the Adani Group now has eight airports under the belt. The remaining 26% of Mumbai Airport, India`s second largest airport, is owned by AAI. In accordance with the concession agreement signed in February 2020 for these three airports, the Adani Group was to take over the three airports within six months, until August 2020. However, the group had requested an extension of the deadline in June, citing the force majeure clause of the public-private partnership agreement, as the work had been affected by the blocking and banning of international flights under COVID-19. Adani Enterprises said on Friday that it has signed concession contracts with the Airports Authority of India (AAI) for the operation, management and development of The Airports of Ahmedabad, Lucknow and Mangaluru. The Airports Authority of India (AAI) has signed the letter of the agreement with Adani Group for Jaipur, Thiruvananthapuram and Guwahati airports, CNBC-TV18 sources said. The concession period is 50 years from the date of trading, according to an official statement. The contracts were signed by their subsidiaries Adani Ahmedabad International Airport Ltd, Adani Lucknow International Airport Ltd and Adani Mangaluru International Airport Ltd.

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