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ADANI GROUP TAKES OVER MANAGEMENT OF JAIPUR INTERNATIONAL AIRPORT

ADANI GROUP TAKES OVER MANAGEMENT OF JAIPUR INTERNATIONAL AIRPORT

Context:

On October 11, 2021, Adani Group took over the responsibilities of the Jaipur International Airport.

Key Highlights:

  • The Airports Authority of India (AAI) has leased the airport to Adani Group for a period of 50 years.
  • Adani Airports will work on the management, operations and development of the Jaipur airport through PPP mode.
  • The group will take over the control of the entire facility except for the cargo terminal, Navigation & Surveillance (CNS), Air Traffic Control (ATC) and Communication which will continue to be operated by AAI.

Jaipur International Airport:

  • It is the primary airport serving Jaipur, the capital of Rajasthan.
  • It has been declared as the World's Best Airport in the category of 2 to 5 million passengers per annum for 2015 & 2016 according to Airports Council International.

Adani Group:

  • It is an Indian multinational conglomerate, headquartered in Ahmedabad.
  • It was founded by Gautam Adani in 1988.
  • It was founded as a commodity trading business, with the flagship company Adani Enterprises Limited (previously Adani Exports Limited).
  • The Group's diverse businesses include port management, electric power generation and transmission, natural gas, renewable energy, mining, airport operations, food processing and infrastructure.
  • It has annual revenue of over US$15 billion with operations at 70 locations in 50 countries.
  • In April 2021, Adani Group became the 3rd Indian conglomerate to cross $100 billion in market capitalization.

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