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 the news for expanding its business in Kenya. Recently, his Adani Group has formed a new company for airport business in Kenya. At the same time, now news is coming that Adani Group will also do electricity business in Kenya. According to the information, he has got a big electricity project in Kenya.
According to a Reuters report, the Adani Group has got a big contract to lay power transmission lines in Kenya. This information has been given in the report quoting an economic advisor to the President of Kenya. It has been said that India’s Adani Group and a unit of the African Development Bank have been given the contract to lay power transmission lines in Kenya. This contract has been given under the Public Private Partnership Concession.
The project is worth $1.3 billion
According to David Ndi, Chief Economic Adviser to Kenyan President William Ruto, the Public Private Partnership concession for laying power transmission lines is worth $1.3 billion. He said that the government has given PPP concession to Adani and Africa50 through KETRACO to build new transmission lines.
What did Adani or African Bank say?
According to the consultant, the project team is being hired 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, which Kenya will not have to take a loan. However, no official information has been given by the African Development Bank or Adani about this project yet.
This company was formed for the airport
Adani Group is already in the news for expanding its business in Kenya. The group has recently formed a new company to run airports in Kenya, named Airports Infrastructure Private Limited Company. It is being told that this company of Adani is going to get the job of handling the operation of Nairobi Airport located in the capital of Kenya. However, this plan is facing opposition at the local level.
Shares of Adani Green Energy Limited surged
Shares of Adani Power Limited and Adani Green Energy Limited rose 5 per cent in Monday’s trade. The rise came after both these Adani Group companies announced receiving a letter of intent (LoI) from the Maharashtra state discom to supply 6,600 MW of hybrid solar and 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
