The Union Cabinet chaired by Prime Minister Narendra Modi has approved the proposal for leasing out of three airports viz. Ahmedabad, Lucknow and Mangaluru airports to Adani Enterprises Ltd.. These three airports currently under the Airports Authority of India (AAI) would be handed to manage operation, management and development under the Public Private Partnership (PPP) for a lease period of 50 years as per the terms and conditions of the bid documents.
According to the press release by Press Information Bureau, “These projects will bring efficiency in delivery, expertise, enterprise and professionalism apart from harnessing the needed investments in the public sector. This will also result in enhanced revenues to the AAI, which may lead to further investment by AAI at Tier II and Tier III cities and economic development in these areas in terms of job creation and related infrastructure.”