Adani Group Clarifies Airport Deal in Kenya
The Adani Group has clarified its involvement in the Kenyan airport deal, addressing reports about its cancellation following bribery charges against the group's founder.
In a statement on November 23, the group denied entering into any binding agreement to operate Kenya's main airport. This clarification came in response to reports that President William Ruto had ordered the cancellation of the procurement process due to the indictment of Gautam Adani in the US.
Regarding the agreement to build and operate power transmission lines in Kenya, the group stated that the project does not fall under the disclosure requirements set by SEBI (Securities and Exchange Board of India). Therefore, there is no need to disclose any cancellation.
Adani Enterprises Ltd, the group's flagship company, confirmed that it established a subsidiary in Kenya in August for airport upgrades and management. However, the company clarified that neither it nor its subsidiaries have been awarded any airport project in Kenya or entered into any binding agreement.
Adani Energy Solutions Ltd, which operates power transmission lines, confirmed it was awarded the contract to build transmission lines in Kenya. However, the company refused to confirm or deny the cancellation of the project, stating it does not require disclosure under SEBI regulations.
The Adani Group has denied the bribery allegations and stated it would pursue all legal avenues. The tender for operating Kenya's main airport had been suspended after local protests.