NMIAL achieves financial closure for Navi Mumbai airport

Navi Mumbai International Airport Private Limited (NMIAL), a subsidiary of Adani Enterprises Limited, has achieved financial closure for the Navi Mumbai International Airport project. The State Bank of India has underwritten the entire debt requirement of Rs 127.7 billion for the project. The airport is being developed on a design-build-finance-operate-transfer basis under the public-private partnership model at an estimated cost of about Rs 160 billion. The new airport will be built on 1,160 hectares in phases. The initial concession period is 30 years from the appointed date and is extendable for a further 10 years.

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