Adani Energy Solutions stated that the termination of the Kenyan airport procurement will not affect its business operations. The company clarified its non-involvement in the deal, which was valued at approximately $2 billion and involved significant upgrades to Jomo Kenyatta International Airport. This comes amid serious allegations of bribery against the group’s founder.
Adani Energy Solutions has announced that the cancellation of the Kenyan airport project will not materially impact its operations. In a statement, the company emphasized that it was not involved in the aforementioned airport deal, which intended to enhance Kenya’s Jomo Kenyatta International Airport through a substantial investment.
The Kenyan government, led by President William Ruto, recently terminated a procurement process that would have yielded control of the airport to India’s Adani Group. This decision follows allegations made by U.S. authorities that Adani Group founder Gautam Adani and seven associates engaged in bribing Indian officials amidst the deal, an allegation that the Adani Group firmly denies. The project was valued at nearly $2 billion and involved significant infrastructure improvements including the addition of a secondary runway and terminal upgrades, secured through a 30-year lease.
The context surrounding the cancellation of the Kenyan airport deal involves a broader scrutiny of the Adani Group, heightened by recent legal challenges and serious allegations of corruption. The deal aimed to modernize and expand the Jomo Kenyatta International Airport, representing a significant foreign investment initiative. With President Ruto’s decision to cancel the contract, the operation and reputation of the Adani Group have come under increased examination, particularly given the claims of bribery related to the procurement process.
In summary, while the cancellation of the Kenyan airport project is noteworthy, Adani Energy Solutions claims that it will not suffer any significant operational impact as a result. The company distanced itself from the airport management deal and reiterated that it has not entered into any agreements regarding this project. With ongoing scrutiny into the Adani Group’s practices, the future of their international ventures remains uncertain.
Original Source: m.economictimes.com
