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Adani Group has outlined an investment plan of around USD 15 billion to raise its airport network's combined annual capacity to nearly 200 million passengers. The plan includes new terminals, additional airside infrastructure and major upgrades across airports in Navi Mumbai, Ahmedabad, Jaipur, Thiruvananthapuram, Lucknow and Guwahati. A large share of the expansion is being funded through debt, supported by forecasts that India's air passenger traffic may exceed 300 million annually by 2030. These upgrades also come ahead of the group's planned airport business listing.
Adani Group has drawn up an investment plan of about USD 15 billion spread over the next five years to scale its airports' combined annual capacity to around 200 million passengers. People familiar with the matter indicated that the plan focuses on both brownfield expansion and the completion of ongoing greenfield work. Advertisement
One of the largest components of this programme is Navi Mumbai International Airport, which is scheduled to begin operations later this month. The airport will open with an initial capacity of 20 million passengers per year, with its full planned capacity expected to be added in phases. The group is also constructing a new runway, terminal infrastructure and wider airside systems to support the expected traffic.
The plan includes other major expansions as well. Ahmedabad Airport is expected to add capacity for about 16 million additional passengers, while Jaipur Airport is likely to add space for nearly 14 million. Thiruvananthapuram Airport is set for upgrades that may support around 8 million more passengers annually, and Lucknow Airport is expected to add close to 6 million. At Guwahati Airport, new facilities with an 11 million-passenger capacity are expected to become operational within this month.
Internal assessments suggest that once these additions are completed, the group's total operational capacity will grow by more than 60 percent, excluding the fresh capacity at the newly built airports that are still being phased in.
Funding for the expansion will come through a mix of 70 percent debt and 30 percent equity. The decision aligns with projections that India's air travel demand may more than double by 2030, potentially reaching 300 million passengers a year. The group aims to position itself strongly as this growth unfolds, especially with plans progressing for a future listing of its airports business.
The airports included in this expansion were part of the second round of privatisation undertaken earlier this decade. These airports were previously operated by the Airports Authority of India before being leased out. With this round of upgrades, Adani Airport Holdings Ltd is also expected to be a key participant in upcoming privatisation opportunities as the government continues to transfer airport operations to private operators.
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