Adani Energy Solutions Confirms No Impact from Kenya Airport Deal Cancellation
Adani Energy Solutions reports no material impact from the cancellation of a Kenya airport deal, clarifying its non-involvement in the project amid ongoing allegations against the Adani Group. The Kenyan government had previously planned a significant investment for airport upgrades before the contract was terminated.
Adani Energy Solutions has affirmed that there will be no significant effect on its operations following the recent cancellation of a major energy deal in Kenya. The company’s statement clarified its non-involvement in the airport management project, which was expected to grant control of Jomo Kenyatta International Airport to India’s Adani Group. This development has emerged amidst broader legal scrutiny of the Adani Group, as U.S. authorities have indicted its founder, Gautam Adani, and other associates on allegations of bribery involving Indian officials.
The announcement from Adani Energy Solutions comes in the context of the Kenyan government’s decision to cancel a procurement process that would have awarded a substantial contract to the Adani Group. The planned investment, totaling nearly $2 billion, was aimed at enhancing facilities at Kenya’s busiest airport, including the addition of a runway and terminal upgrades. The cancellation directly stems from ongoing legal issues facing the Adani Group, including recent indictments in the United States for alleged financial misconduct.
In conclusion, Adani Energy Solutions has distanced itself from the Kenya airport project and asserts that its operations will not be materially impacted by the deal’s cancellation. This clarification is particularly relevant given the allegations against the Adani Group, highlighting the company’s focus on transparency and regulatory compliance amidst challenging circumstances.
Original Source: m.economictimes.com
