NEW DELHI: The Adani Group has achieved the financial closure of its Group’s greenfield international airport project at Navi Mumbai, Maharashtra, the company informed in a statement on Tuesday. The public sector lender, State Bank of India has underwritten the entire debt requirement of Rs 12,770 crore for the project, the group said.
“The Navi Mumbai International Airport Private Ltd (NMIAL), a subsidiary of Adani Enterprises Ltd (AEL), has achieved Financial Closure for the greenfield international airport project at Navi Mumbai, Maharashtra with the execution of financing documents with the State Bank of India (SBI),” it said.
“The Adani Group’s focus is to create and provide best-in-class airport infrastructure and allied services to the consumer,” said Jeet Adani, Director, NMIAL. “We aim to converge India’s biggest cities with other surrounding cities and towns in a hub and spoke model. Given the central role airports will play in the future, we intend to develop an economic ecosystem that has airports and airport users at its core. With this facility from the SBI, we have moved a step closer to providing Mumbai with another landmark utility.”