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Adani Airport plans to invest more than Rs 20,000 crore in the first phase of a large-scale airport city development programme spanning over 655 acres across six airports in five states, as the company seeks to transform its aviation hubs into integrated commercial and urban destinations. The development, announced on Thursday by Adani Airport City Ltd (AACL) - a wholly-owned subsidiary of Adani Airport Holdings Limited (AAHL), India's largest private airport operator - will cover airports in Mumbai, Navi Mumbai, Ahmedabad, Lucknow, Jaipur and Guwahati, with around 22 million square feet of mixed-use infrastructure planned in the initial phase. Nearly 70 per cent of the investment will be concentrated in Mumbai and Navi Mumbai, where the company controls close to 440 acres of land, reflecting the strategic importance of the Mumbai Metropolitan Region as India's largest aviation and commercial hub, it said in a statement. The projects will combine hotels, offices, retail, ...
Adani Power on Thursday said it has entered into definitive agreements to acquire a 24 per cent stake in Jaiprakash Power Ventures and other thermal assets from Jaiprakash Associates for about Rs 4,193.59 crore. According to a regulatory filing, the company has also inked a Share Purchase Agreement for the acquisition of 24 per cent shares of Jaiprakash Power Ventures Ltd, held by Jaiprakash Associates. Further, Adani Power has inked a Business Transfer Agreement for the acquisition of the 180 MW thermal power plant of Jaiprakash Associates located in Churk and other related assets, including 11.49 per cent shares of Prayagraj Power Generation Company Ltd, held by Jaiprakash Associates. It stated that the consideration for 24 per cent of the shareholding of JPVL, held by JAL, stood at Rs 2,993.60 crore and for the 180 MW thermal power plant of JAL located in Churk and other related assets, including 11.49 per cent shares of Prayagraj Power Generation Company Ltd, held by JAL, is Rs