Adani: Ruto Cancels $776 Million Partnership Deal with Adani Group Over lndictment Case
William Ruto, the president of Kenya has announced that the country is cancelling deals already signed with Adani Group subsidiaries which according to reports are worth over $776 million, citing the company’s indictment in the United States.
He made this known on Thursday, saying the country is cancelling the procurement process that would have handed control of the second runway at the Jomo Kenyatta International Airport and upgraded the passenger terminal in exchange for a 30-year lease to India’s Adani Group,
“I have directed agencies within the ministry of transport and within the ministry of energy and petroleum to immediately cancel the ongoing procurement,” Ruto said in his State of the Nation address.
“I have stated in the past, and I reiterate today, that in the face of undisputed evidence or credible information on corruption, I will not hesitate to take decisive action.”
According to Reuters, Ruto also ordered the termination of a 30-year public-private partnership deal signed last month by the energy ministry with an Adani Group subsidiary to build power transmission lines.
U.S. authorities revealed on Wednesday that Gautam Adani, one of the world’s wealthiest individuals, and seven other defendants allegedly paid approximately $265 million in bribes to Indian government officials.
The Adani Group has however denied the allegation of bribery by the US stating that the company would seek “all possible legal recourse”.
“The Adani Group has always upheld and is steadfastly committed to maintaining the highest standards of governance, transparency and regulatory compliance across all jurisdictions of its operations,” said the spokesperson.
Meanwhile, Kenyan Energy Minister Opiyo Wandayi asserted on Thursday that no bribery or corruption was involved in awarding the transmission lines contract to the Adani Group.
