Adani Energy Solutions Acknowledges No Impact from Kenya Airport Deal Cancellation

Adani Energy Solutions stated it will not face material impact from the cancellation of the Kenya airport deal, which President Ruto halted. The Adani Group is under scrutiny for alleged bribery, with U.S. authorities indicting its founder Gautam Adani. The group denies these allegations and maintains that it had no contracts related to the airport.

Adani Energy Solutions has clarified that it will not be significantly affected by the recent cancellation of the procurement process involving Kenya’s Jomo Kenyatta International Airport. The company has stated, “there is no material impact of the Media Report on the operations of the Company.” This follows President William Ruto’s decision to halt a deal that would have granted management control of the airport to the Adani Group, which was initially set to involve considerable investments in upgrades and expansions. Furthermore, the Adani Group is facing legal scrutiny, as U.S. authorities have indicted founder Gautam Adani and others for alleged bribery of Indian officials totaling $265 million; however, the group has denied these claims.

The cancellation of the airport deal in Kenya, which was valued at nearly $2 billion, marks a significant shift for the Adani Group’s international expansion efforts. The planned project aimed to enhance Kenya’s premier airport by adding a second runway and upgrading its terminal in exchange for a long-term lease. Additionally, the ongoing legal issues involving the group and accusations of corruption in India contribute to the company’s complex operational environment in international markets.

In summary, Adani Energy Solutions does not anticipate any substantial disruption to its operations from the cancelled airport deal in Kenya, as indicated in their official statement. The company has distanced itself from the deal and clarified that it did not hold any contracts related to the airport. The ongoing legal challenges faced by the Adani Group may, however, continue to influence public perception and operational strategy moving forward.

Original Source: m.economictimes.com