Business

Adani incorporates new company to manage Lucknow airport

Gautam Adani-led Adani Enterprises Limited (AEL) has incorporated a company — Adani Lucknow International Airport Limited — on September 6, 2019 to operate, maintain, develop, design, construct, upgrade modernise and manage the Chaudhary Charan Singh International Airport in Lucknow.

This is after the company received Letter of Award from Airports Authority of India (AAI) on July 15, 2019 for operations, management and development of Chaudhary Charan Singh International Airport.

“Adani Lucknow International Airport Limited is incorporated in India with authorized share capital of ₹one lakh and paid up share capital of ₹one lakh and is registered with the Registrar of Companies, Gujarat at Ahmedabad on September 6, 2019 and is yet commence its business operations,” said AEL in a filing to the exchanges.

In July, the Union Cabinet had approved the proposal for leasing out of three airports in Ahmedabad, Lucknow and Mangaluru of AAI through public private partnership.

These airports are part of the six airports, including Trivandrum, Guwahati and Jaipur – all the six airports were won by Adani Enterprise for a period of 50 years in a bid process that saw participation from GMR, NIIF, Cochin International Airport, AMP Capital, among others.

Last month, Adani Group had set up a new company called Adani Airports Ltd., to manage its airport businesses. The new firm has been incorporated by the group’s flagship company Adani Enterprises for running airports in India and abroad.

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Printable version | May 3, 2021 4:48:22 AM | https://www.thehindu.com/business/adani-incorporates-new-company-to-manage-lucknow-airport/article29363060.ece

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