Aai Agreement

Adani Enterprises Ltd (AEL) on Friday signed a 50-year concession agreement with Airports Authority of India (AAI) for the development and operation of three airports, including Ahmedabad, Lucknow and Mangaluru, the company said in its bid to the stock exchanges. “It is expected that the concession contract for the three airports can be signed within the next two months,” a source said. The Adani Group said on Friday that it had entered into agreements with the Airports Authority of India (AAI) for the management, operation and development of airports in Ahmedabad, Mangaluru and Lucknow. A spokesman said in a statement that the agreements were signed by the company`s whoress, Adani Ahmedabad International Airport Ltd, Adani Lucknow International Airport Ltd and Adani Mangaluru International Airport Ltd. 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. The agreements were signed between AAI and the wholly-owned subsidiaries of AEL Adani Ahmedabad International Airport Ltd, Adani Lucknow International Airport Ltd and Adani Mangaluru International Airport Ltd. In early February 2019, AEL had the highest deals for the airports of Ahmedabad, Jaipur, Lucknow, Mangaluru, … Under the partnership agreement between ISA, India`s Ministry of New and Renewable Energy (MNRE) and the World Bank, ISA will manage the supply process and the global network implementation plan.

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. “Today, as we sign the concession contracts of Mangaluru, Lucknow-A`bad with the IAA, this is the beginning of another historic journey that accompanies India`s exponential demands for airport infrastructure,” tweeted Gautam Adani, president of the Adani Group. The possibility of expanding capacity to more than 100 million pax over the next ten years has enabled India and France to make early attempts to create isA, India`s calling card for climate change, with France calling it a “political project”.

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