Adani Enterprises, the flagship company of Indian conglomerate Adani Group, is expected to pay Rs3.15tn ($45.264bn) to the Government of India to manage six airports in the country.
Last month, the company emerged as the highest bidder to manage, operate and develop facilities at the airports after the Airports Authority of India (AAI) invited bids in December 2018.
The six airports are located in Ahmedabad, Jaipur, Mangaluru, Trivandrum (Thiruvananthapuram), Lucknow, and Guwahati, but the decision on the Guwahati Airport has been put on hold following a court order.
On the basis of a per-passenger fee, Adani Group defeated its rivals, including GMR Group, National Investment and Infrastructure Fund (NIIF), Fairfax India, AMP Group and PNC Infratech.
Adani Group quoted Rs168 per passenger for the Thiruvananthapuram International Airport, Rs115 for Mangaluru Airport, Rs174 for Jaipur, Rs171 for Lucknow and Rs177 for the Ahmedabad Airport.
The agreements mean Adani Enterprises will operate six airports in the country under the public-private partnership (PPP) model, reported IANS.
Adani will also design, engineer, finance, construct and develop the additional air-side, terminal, city-side, and land-side infrastructure.
IANS further reported that Adani Enterprises will have to pay a minimum of Rs60bn ($862.6m) per annum to the AAI, in case it incurs a capital expenditure of at least Rs200bn ($2.87bn), for the six airports over the next five years.