Kenya cancels agreement with Adani Group related to airports and power transmission line
Adani: Kenya's President said that he has instructed the Ministry of Energy to cancel the $ 736 million public-private partnership agreement with a unit of the Adani Group last month for the construction of power distribution lines, which had a term of 30 years. Let's know what the President of Kenya said next.
Kenyan President William Ruto said on Thursday that he had ordered the cancellation of the deal with Adani Group, under which the management of the country's major airport was to be entrusted to the Indian Group. The decision was taken by Kenya following the indictment of the founder of the company in the US.
Ruto said on Friday that he has also asked the Ministry of Energy to cancel its $ 736 million public-private partnership deal with a unit of the Adani Group last month for construction of power distribution lines which was for a period of 30 years.
"I have instructed agencies of the Ministry of Transport and the Ministry of Energy and Petroleum to immediately cancel the ongoing procurement process," Ruto said in his address to the nation. He attributed the decision to "new information provided by investigative agencies and partner countries".
US officials said on Wednesday that Gautam Adani, one of the world's richest men, and seven other defendants had agreed to pay bribes of about $265 million to Indian government officials. However, the Adani Group denied the allegations and said in a statement that it would explore "all possible legal remedies". Earlier on Thursday, Energy Minister Opiyo Wandayi said there was no bribery or corruption involved in the contract for the transmission lines.
