Following President Ruto’s cancellation of the Kenya-Adani energy and airport expansion deal, The Adani group in a statement on Saturday highlighted that the company nor its subsidiaries have entered into any airport contract with Kenya.
The Indian Adani group revealved in a statement on Saturday November 24 that « The Company nor any of its subsidiaries have entered into any contract in connection with any airport in Kenya. » this comes as kenyan president on Thursday said he had ordered the cancellation of the procurement process had been expected to award control of Kenya’s main airport to India’s Adani Group.
In response to a request for clarification from the Bombay Stock Exchange and the National Stock Exchange following reports on the cancellation of the accord, the group stated that a $736 million transmission line project did not require it to make any regulatory disclosure under Indian stock exchange rules as it was within its ordinary course of business.
« Further, the Company hereby submits that there is no material impact of the Media Report on the operations of the Company, » it added.
According to sources, Gautam Adani was charged with fraud for allegedly orchestrating 250 Million dollars bribery scheme and cancelling it to raise money in the US. However, representatives from the group have denied all allegations and called them « baseless »
The Adani Group was set to invest $1.85bn in Kenya’s main airport in exchange for a contract to run it for 30 years, as well as a $736m deal with the energy ministry to construct power lines.
The country’s Energy minister, Opiyo Wandayi, on Thursday in parliament said there was no bribery or corruption involved in the procurement of the power lines.
The controversial deal sparked a protest among airport workers in September, as they feared it would take away their jobs.
