Industrialist Gautam Adani
Gautam Adani, one of the world’s leading businessmen, is rapidly expanding his business not only in the country but also in the world. Adani Group is already in talks about business expansion in Kenya. Recently, his Adani Group has formed a new company for the airport business in Kenya. At the same time, news is now coming that Adani Group will also do electricity business in Kenya. According to information, it has a large electricity project in Kenya.
According to a report by Reuters, Adani Group has secured a large contract to lay power transmission lines in Kenya. This information is given in the report citing an economic advisor to the Kenyan president. He said that India’s Adani Group and a unit of the African Development Bank have been awarded the contract to lay power transmission lines in Kenya. This contract has been awarded under Public Private Partnership Concession.
The project is worth 1.3 billion dollars
According to David Ndi, chief economic adviser to Kenyan President William Ruto, the Public Private Partnership concession to lay the power transmission line is worth $1.3 billion. He said the government has awarded a PPP concession to Adani and Africa50 to build new transmission lines through KETRACO.
What did Adani or the African Bank say?
According to the consultant, the project team will be contracted by Adani and Africa 50. Africa50 is a unit of the African Development Bank, which invests in infrastructure projects. He also wrote that the cost of these new transmission lines will be $1.3 billion, an amount that Kenya will not have to borrow. However, neither the African Development Bank nor Adani have provided any official information about this project yet.
This company was created for the airport.
Adani Group is already in talks about expanding business in Kenya. The group has recently formed a new company to manage airports in Kenya, called Airports Infrastructure Private Limited Company. This Adani company is said to be responsible for managing the operation of Nairobi Airport located in the Kenyan capital. However, this plan is facing opposition at the local level.
Adani Green Energy Limited shares rise
Shares of Adani Power Limited and Adani Green Energy Limited saw a 5 per cent rise in trade on Monday. The rise came after both the Adani Group companies announced that they have received a letter of intent (LoI) from the state of Maharashtra for supply of 6,600 MW of hybrid solar-thermal power. Adani Green Energy will supply 5 GW (5,000 MW) of solar power from Khavda, while Adani Power will provide 1,496 MW of thermal power from its new 1,600 MW ultra-supercritical capacity.
