INSUBCONTINENT EXCLUSIVE:
Gautam Adani (Photo: Bloomberg)2 min read Last Updated : Sep 16 2024 | 9:50 AM IST
Despite facing protests and opposition from unions
government has confirmed that the conglomerate will construct power transmission lines, as reported by The Economic Times.
Kenya
Electricity Transmission Company (Ketraco) has granted a concession for a public-private partnership to construct power transmission lines
to India's Adani Group and an entity of the African Development Bank, according to a presidential economic advisor, the report said.
David
Ndii, the chief economic advisor to President William Ruto, announced through a post on X (formerly Twitter) that the concession is valued
They are hiring their project teams
The cost of these transmission lines is $1.3 billion that we do not have to borrow."
Africa50 is an investment platform focused on
The proposal includes leasing Jomo Kenyatta International Airport to the Adani Group for a 30-year term, with the company investing $1.85
from Opposition parties in India, who accuse the company of benefiting from government favouritism
Both Indian officials and the Adani Group have consistently denied these claims.
Kenya is currently grappling with significant debt,
accumulated through years of heavy infrastructure investment
Earlier this year, the government's plan to raise taxes in an effort to generate funds for debt repayment led to violent protests, forcing
the administration to retract the proposal.First Published: Sep 16 2024 | 9:50 AMIST
