SBI: With the execution of financing documents with the State Bank of India, Navi Mumbai International Airport Private Ltd. (NMIAL), a subsidiary of Adani Enterprises Limited (AEL), announced on Tuesday that the greenfield international airport project in Navi Mumbai, Maharashtra, has reached financial closure (SBI).
NMAIL confirmed that SBI has underwritten loan
“The SBI has underwritten the whole financing requirement for the NMIA Project of Rs 12,770 crores,” NMAIL stated in a statement.
“The Adani Group’s aim is to construct and supply best-in-class airport infrastructure and linked services to the consumer,” stated Jeet Adani, Director of the National Middle East International Airport.
“In a hub-and-spoke approach, we want to connect India’s largest cities with smaller nearby cities and towns.” Given the critical role that airports will play in the future, we plan to create an economic ecosystem that revolves around airports and airport passengers. We’ve taken a step closer to providing Mumbai with another iconic utility with this SBI financing,” he added.
“The achievement of financial closure signifies the Adani Group’s commitment to mobilize the necessary resources and complete the NMIA Project, which was taken over pursuant to the Group’s acquisition of Mumbai International Airport Ltd. (MIAL) through Adani Airport Holdings Ltd. (AAHL) in July 2021,” NMAIL added.