On November 21, Kenyan President William Ruto announced that he has instructed the government to halt the procurement process for the expansion of the nation’s principal airport, wherein the Adani Group’s bid was being considered.
Ruto claimed to have also ordered the energy ministry to revoke a more than $700 million agreement it had made with an Adani Group company to build electricity transmission lines.
Ruto attributed the decision to “new information provided by investigative agencies and partner nations” in his state of the nation address. “I have directed agencies within the ministry of transport and within the ministry of energy and petroleum to immediately cancel the ongoing procurement,” he said.
Adani Energy Solutions, in October, signed a 30-year, $736 million public-private partnership deal with the Kenya Electrical Transmission Company. A court suspended the contract in the same month.
Adani Group chairman Gautam Adani was indicted by US prosecutors for his alleged role in a $265-million scheme to bribe Indian officials. Adani Group denied the allegations as “baseless”.
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Source: Money Control
