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Concession Agreement Aai

“Over the past 30 years, @AdaniOnline has filled critical demand gaps in India. Today, as we sign the concession contracts for Mangaluru, Lucknow & A`bad with @AAI_Official, it is the beginning of another historic journey that meets the exponential demands of India`s airport infrastructure,” Gautam Adani wrote on Twitter. Adani Enterprises announced on Friday that it has signed concession agreements with the Airports Authority of India (AAI) for the operation, management and development of Ahmedabad, Lucknow and Mangaluru airports. The duration of the concession is 50 years from the date of commercial operation, according to an official statement. On 14 February, AAI signed concession contracts with the Adani Group for the operation, management and development of Mangaluru, Lucknow and Ahmedabad airports. Concession contracts for the other three airports – Jaipur, Guwahati and Thiruvananthapuram – were signed between the two sides in September. CNBC-TV18 exclusively announced to you today that the gautam Adani-led group is expected to sign the agreement today, a year after it emerged as the highest bidder for six airports, including these three. Concessionaires are required to take over Ahmedabad, Lucknow and Mangaluru airports within 180 days from 14 February 2020, after fulfilling certain conditions, and will operate, manage and develop the airports for the next 50 years, in accordance with the conditions set out in the agreements. The duration of the concession is 50 years from the date of commercial operation, according to an official statement. The agreements were signed by subsidiaries Adani Ahmedabad International Airport Ltd, Adani Lucknow International Airport Ltd and Adani Mangaluru International Airport Ltd. Adani Group on Friday signed concession contracts with airports Authority of India (AAI) for the management and development of Ahmedabad, Lucknow and Mangaluru airports. The agreement was signed between AAI and subsidiaries 100% created by the group for the operation of these airports. As part of the agreement, the subsidiaries of the Adani Group will take management control of the airports for 50 years.

“Shri A.K Sharma, APD (Airport Manager), Lucknow exchanged symbolic keys in accordance with the concession agreement and future development,” he added The concessions were signed with concessionaires Adani Ahmedabad International Airport, Adani Lucknow International Airport and Adani Mangaluru International Airport. . . .

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Posted: 09/15/2021

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