New Delhi, Feb 14 (IANS): Gujarat-based Adani Enterprise on Friday signed a concession agreement with the Airports Authority of India (AAI) for managing three of its airports for 50 years.

The diversified business conglomerate signed the agreement for the Ahmedabad, Mangaluru and Lucknow airports through three airport-specific subsidiaries.

Adani Enterprises was the highest bidder for all the six airports offered by the Centre via the public-private partnership (PPP) mode.

While the Union cabinet had earlier approved leasing out of the three airports -- Ahmedabad, Lucknow and Mangaluru -- to the Adanis, the leasing out of the other three airports - Jaipur, Guwahati and Thiruvananthapuram - are currently on hold owing to some pending issues. In case of all the airports, the lease period is 50 years.

Official sources said that the remaining three airports would also be handed over to the Adanis who are foraying into the airport business.