MUMBAI: The Adani Group on Tuesday said that it has concluded the financing for the greenfield airport at Navi Mumbai.
The group announced financial closure of the said airport project with the execution of financing documents with the State Bank of India (SBI).
“SBI has underwritten the entire debt requirement of Rs 12,770 crore for the Navi Mumbai International Airport project,” said a statement issued by the Adani Group on Tuesday.
The long-delayed second airport to serve the Mumbai metropolitan region is expected to be ready by 2024.
The Adani Group had taken over the Navi Mumbai Airport project in July last year with the acquisition of Mumbai airport.
Jeet Adani, director, NMIAL said, “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.”
“The financial closure signifies the commitment of the Adani Group to mobilise the required resources and complete, within the set timelines, the NMIA Project which was taken over pursuant to the acquisition of Mumbai International Airport Ltd (MIAL) by the Group through Adani Airport Holdings Ltd (AAHL), in July 2021,” the Group said.