Adani Energy Solutions stated that the cancellation of a Kenyan airport procurement process will not materially affect its operations. The company clarified it had no involvement in the airport management deal. The initiative was part of a substantial investment plan by the Adani Group, which has faced allegations of bribery against its founder.
Adani Energy Solutions has clarified that the recent media report regarding the cancellation of a significant procurement process in Kenya will not have any material impact on its operations. The company emphasized its non-involvement in the deal related to managing and upgrading Nairobi’s Jomo Kenyatta International Airport. President William Ruto announced the deal’s cancellation, which was part of a nearly $2 billion investment plan by the Adani Group for the airport’s expansion and a 30-year lease. Furthermore, the company stressed that neither it nor its subsidiaries had entered into any contracts associated with airports in Kenya.
The context of the article pertains to a recent announcement by Kenyan President William Ruto, who canceled a procurement process that was expected to grant control of Kenya’s main airport to the Adani Group, an Indian multinational conglomerate. The cancellations come in light of broader scrutiny of the Adani Group, as U.S. authorities indicted its founder, Gautam Adani, along with several others for alleged bribery involving significant sums. The Adani Group has denied these allegations. This situation has raised concerns regarding the company’s ventures abroad, particularly in Africa, where substantial investments are being sought.
Adani Energy Solutions has asserted that the cancellation of the airport deal will not adversely affect its operations, highlighting that it was not involved in any agreements concerning the management of Kenya’s Jomo Kenyatta International Airport. Amidst ongoing scrutiny surrounding the Adani Group, it is vital for investors and stakeholders to monitor how these developments may influence the company’s future projects and international relationships.
Original Source: m.economictimes.com
