Kenya Cancels Adani's $700M Power, $1.8B Airport Deals After U.S. Indictment

Nov 21, 2024, 01:47 PM

Kenyan President William Ruto has canceled major infrastructure deals with India's Adani Group following indictments of the conglomerate's executives, including Gautam Adani, in the United States on charges of fraud and bribery. The canceled agreements include a $700 million contract with the Kenya Electricity Transmission Company (Ketraco) to construct power transmission lines and a proposed $1.8 billion expansion of Nairobi's Jomo Kenyatta International Airport (JKIA). President Ruto directed the Transport and Energy ministries to terminate the ongoing procurement processes for these projects based on "new information provided by investigative agencies and partner nations." The Adani Group had been in discussions to take over the management and expansion of Kenya's main international airport and to build power lines through a concession deal.