Tag: Gautam Adani

InfrastructureLatest Stories

PM Launches $2.2B Navi Mumbai Airport by Adani Group

NEW DELHI: Prime Minister Narendra Modi inaugurated a new international airport in Mumbai on Wednesday, advancing the growth of India’s rapidly expanding aviation network. Developed by the Adani Group at a cost of approximately $2.2 billion, the first phase of Navi Mumbai International Airport is set to start operations in December, serving as a significant passenger and cargo hub in Asia. This project will also alleviate congestion at Chhatrapati Shivaji Maharaj International Airport, one of the nation’s busiest airports. Notably, Mumbai is the only metropolitan area in India with a second international airport. This initiative highlights India’s commitment to modernizing…

InfrastructureLatest Stories

Navi Mumbai Airport Opening Set for October 8

MUMBAI: The Navi Mumbai International Airport is set to open on October 8, as announced by Adani Group Chairman Gautam Adani on Wednesday. The airport recently received its aerodrome license from the Directorate General of Civil Aviation (DGCA) on Tuesday and is being developed in multiple phases by Navi Mumbai International Airport Ltd. The Adani Group holds a 74% stake, while the Maharashtra government’s CIDCO has the remaining 26%. “In preparation for the opening of Navi Mumbai International Airport on October 8, I had the honor of meeting with our diverse team, including construction workers, women staff, engineers, artisans, firefighters,…

IndustryLatest Stories

Adani Group seeks approval to acquire Jaiprakash Associates

NEW DELHI: The Adani Group, led by billionaire Gautam Adani, has requested the Competition Commission of India (CCI) for approval to acquire Jaiprakash Associates Ltd (JAL). This move follows an unconditional bid made by the Adani Group for the financially troubled JAL, currently undergoing a corporate insolvency resolution process (CIRP). The notice submitted to the CCI states, “The proposed acquisition pertains to owning up to 100% of the shareholding in Jaiprakash Associates Ltd by Adani Enterprises Ltd and Adani Infrastructure and Developers Pvt Ltd or any related entity within the Adani Group.” Adani Enterprises Ltd (AEL) is the leading company…