On Wednesday, Adani Enterprises Ltd. (AEL) said that it plans to spend about Rs 50,000 crore in the capital expenditure (CapEx) over next five years with a major amount of fund going towards its airports business, said a top company official.
Adani Group plans to infuse a capital of Rs 35,780 crore in its airport business in the next five years, said Jugeshinder Singh, CFO, AEL. “For Adani Enterprises for the next five years, the main focus area is airports, roads …the ballpark number over five years we expect …the capex is about Rs 50,000 crore,” Singh added.
Singh said that Adani Enterprises wants to make its airport business as its consumer transport facility, Adani Ports & Special Economic Zone (APSEZ). He also added that the group’s chairman had a clear strategy laid out for Adani Enterprises.
Adani Group’s flagship firm has won bids for six airports at Ahmedabad, Mangaluru, Lucknow, Trivandrum, Jaipur and Guwahati. It has took over the operation, management and development of Mangaluru airport on 31 October and that of Lucknow airport on 2 November, while the operations of Ahmedabad airport will be soon taken over by this month.