The Adani Group has acquired Mumbai International Airport Limited (MIAL) from the GVK group by amassing a 74% stake in MIAL. The group will begin construction of the greenfield airport in Navi Mumbai next month. This airport, though, will be commissioned in 2024. With 7 airports under its control, the group will control 25% of passenger footfalls and 33% of India’s air cargo and make the group India’s largest airport infrastructure company.
“Our larger objective is to reinvent airports as ecosystems that drive local economic development and act as the nuclei around which we can catalyze aviation-linked businesses. These include metropolitan developments that span entertainment facilities, e-commerce and logistics capabilities, aviation-dependent industries, smart city developments, and other innovative business concepts,” said Gautam Adani, Chairman of the Adani Group.
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