Gautam Adani’s firm announces massive investment, Karan Adani reveals Rs 600000000000 plan to…

Gautam Adani is the second richest man in the country right after Mukesh Ambani. With a massive net worth of more than Rs 690000 crore, Gautam Adani is the chairperson of Adani Group that is involved in a wide range of businesses including infrastructure, mining, electricity and others. A huge part of Adani Group is also involved in airport management. Currently, Adani Group is operating seven airports throughout the country and one upcoming airport is under construction in Navi Mumbai. As Prime Minister Narendra Modi inaugurated another terminal at Lucknow airport, Gautam Adani’s son Karan Adani revealed the plan to invest Rs 60000 crore over the next 5-10 years. For those who are unaware, Gautam Adani’s son Karan Adani is MD of Adani Ports and Special Economic Zone Ltd.

A huge chunk of the planned Rs 60000 crore investment will be injected into runway and terminal capacity over the next 5 years. As of now, the annual passenger handling capacity of Adani run airports is 100-110 million. The conglomerate plans to increase the capacity by 2.5-3 times by 2040. The 600000000000 investment will be in addition to the Rs 18000 crore that the company has already put to build the first phase of the Navi Mumbai airport.

Additionally, Adani Group plans to invest Rs 30000 crore for the construction of hotels, multiplexes and other facilities alongside eight airports over 10 years. The Adani group operates airports in Mumbai, Ahmedabad, Lucknow, Mangaluru, Jaipur, Guwahati and Thiruvananthapuram.