Navi Mumbai International Airport Private Ltd. (NMIAL), a subsidiary of Adani Enterprises Limited (AEL), announced on Tuesday that it has achieved financial close for the greenfield airport project in Navi Mumbai, Maharashtra with the execution of financing documents at the State Bank of India (SBI ).
“The SBI has assumed the entire debt requirement of ₹12,770 crore for the NMIA project,” NMAIL said in a statement.
“The focus of Adani Group is to create and deliver world-class airport infrastructure and related services to the consumer,” said Jeet Adani, Director of NMIAL.
“Our goal is to bring together the largest cities in India with other surrounding cities and communities in a hub-and-spoke model. Given the pivotal role that airports will play in the future, we want to develop an economic ecosystem that puts airports and airport users at the center. With this establishment of the SBI, we are one step closer to providing another game-changing utility for Mumbai,” he added.
“Achieving financial close signifies Adani Group’s commitment to mobilize the necessary resources and complete the NMIA project, which is part of the acquisition of Mumbai International Airport Ltd. (MIAL) was acquired by the Group to complete Adani Airport Holdings Ltd. within the stipulated timeframes. (AAHL), in July 2021,” added NMAIL.
