Kenya cancels airport, energy deals with Adani group after US indictments

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Kenya cancels airport, energy deals with Adani group after US indictments - Business Standard

Quick Summary:

The Adani group had been in the process of signing an agreement that would modernize Kenya's main airport in the capital, Nairobi, with an additional runway and terminal constructed, in exchange for the group running the airport for 30 years.

Kenya's president said Thursday he has cancelled multimillion-dollar airport expansion and energy deals with Indian tycoon Gautam Adani after US bribery and fraud indictments against one of Asia's richest men.

The widely criticised deal had sparked anti-Adani protests in Kenya and a strike by airport workers, who said it would lead to degraded working conditions and job losses in some cases.