Kenya Cancels Adani Power & Airport Deal - Modi Media Still Supporting?
On november 21, Kenyan President William Ruto announced that he had instructed the government to halt the procurement process for the expansion of the nation's principal airport, whereby the adani company was putting forth a proposal. Ruto claimed to have also ordered the energy ministry to revoke a more than $700 million agreement it had made with an adani Group company to build electricity transmission lines. netizens question why indian Media favoring PM Modi fails to show these.
Ruto attributed the decision to "new information provided by investigative agencies and partner nations" in his State of the Nation address. "I have directed agencies within the Ministry of Transport and the Ministry of Energy and Petroleum to immediately cancel the ongoing procurement," he said.
The kenya Electrical Transmission Company and adani Energy Solutions inked a 30-year, $736 million public-private partnership agreement in October. In the same month, a judge halted the deal.
US authorities charged adani Group chairman gautam adani for allegedly participating in a $265 million bribery plot against indian officials. The adani Group called the accusations "baseless" and disputed them.
Kenya's energy minister earlier on november 21 stated that the awarding of a contract to an adani Group company to construct electricity lines in the east African country was free of corruption and bribery.
Opiyo Wandayi, the minister of energy, had declared the transaction to be legal.
"As far as the PIP (Privately-initiated proposal) with adani Energy Solutions is concerned, there has been no case of corruption or bribery," he said to the Senate finance committee in Kenya.
In connection with renewable energy projects in india that benefited the tycoon's firm and Azure Power, which was listed on the NYSE until late 2023, US authorities accused gautam adani, his nephew Sagar adani, a director at adani Green, and six other individuals of bribery and fraud.
Additionally, while soliciting money from investors and lenders in the United States, adani and his executives are accused of making false and deceptive claims about the company's anti-bribery pledges and policies.
The market value of adani Group firms dropped by almost $27 billion on thursday following gautam Adani's alleged involvement in a bribery and fraud conspiracy by US investigators.
According to US investigators, adani and seven other defendants, including his nephew Sagar adani, agreed to pay around $265 million in bribes to indian government officials late on wednesday in order to create India's largest solar power plant and get contracts that were anticipated to generate $2 billion in profit over 20 years.
Ruto attributed the decision to "new information provided by investigative agencies and partner nations" in his State of the Nation address. "I have directed agencies within the Ministry of Transport and the Ministry of Energy and Petroleum to immediately cancel the ongoing procurement," he said.
The kenya Electrical Transmission Company and adani Energy Solutions inked a 30-year, $736 million public-private partnership agreement in October. In the same month, a judge halted the deal.
US authorities charged adani Group chairman gautam adani for allegedly participating in a $265 million bribery plot against indian officials. The adani Group called the accusations "baseless" and disputed them.
Kenya's energy minister earlier on november 21 stated that the awarding of a contract to an adani Group company to construct electricity lines in the east African country was free of corruption and bribery.
Opiyo Wandayi, the minister of energy, had declared the transaction to be legal.
"As far as the PIP (Privately-initiated proposal) with adani Energy Solutions is concerned, there has been no case of corruption or bribery," he said to the Senate finance committee in Kenya.
In connection with renewable energy projects in india that benefited the tycoon's firm and Azure Power, which was listed on the NYSE until late 2023, US authorities accused gautam adani, his nephew Sagar adani, a director at adani Green, and six other individuals of bribery and fraud.
Additionally, while soliciting money from investors and lenders in the United States, adani and his executives are accused of making false and deceptive claims about the company's anti-bribery pledges and policies.
The market value of adani Group firms dropped by almost $27 billion on thursday following gautam Adani's alleged involvement in a bribery and fraud conspiracy by US investigators.
According to US investigators, adani and seven other defendants, including his nephew Sagar adani, agreed to pay around $265 million in bribes to indian government officials late on wednesday in order to create India's largest solar power plant and get contracts that were anticipated to generate $2 billion in profit over 20 years.