Adani Energy Solutions announced that the cancellation of the Kenyan airport deal will not materially affect its operations. President William Ruto’s directive marks a significant shift, while Adani clarified its non-involvement in the procurement process. This follows recent allegations against the group’s founder concerning bribery in India.
Adani Energy Solutions has stated that the cancellation of the procurement process for Kenya’s main airport will not have a material impact on its operations. The announcement follows President William Ruto’s directive to terminate the deal, which was to award a contract to the Adani Group. Furthermore, Adani Energy clarified that it was not participating in any contracts related to managing or upgrading the Jomo Kenyatta International Airport in Kenya.
This procurement process was valued at nearly $2 billion and involved plans for significant upgrades to the airport, including a second runway and improvements to the passenger terminal. Despite the government’s decision, Adani Energy Solutions reassured stakeholders that its operations remained unaffected.
Adani Energy Solutions is part of the Adani Group, a conglomerate with various business interests, including energy, logistics, and airport management. Recently, U.S. authorities indicted Gautam Adani, the founder, along with others, alleging that they engaged in corruption by bribing Indian officials. These events have cast a shadow over the group’s international investments and operations, particularly in Kenya, where they were set to oversee a major airport project.
In summary, Adani Energy Solutions has affirmed that it will not experience any significant operational impact from the cancellation of the airport deal in Kenya. The company has clarified its position regarding its non-involvement in the airport management contract, despite the controversies surrounding the Adani Group. Stakeholders can rest assured that the company’s operations remain stable amidst these developments.
Original Source: m.economictimes.com
