Kenya’s President, William Ruto has officially announced the termination of multimillion-dollar airport expansion and energy deals with Indian tycoon Gautam Adani after U.S. bribery and fraud indictments against one of Asia’s richest men.
U.S. prosecutors indicted Adani this week on charges he duped investors in a massive solar energy project in India by concealing that it was facilitated by an alleged bribery scheme. He was charged with securities fraud and conspiracy to commit securities and wire fraud.
President William Ruto in a state of the nation address on Thursday said the decision was made “based on new information provided by our investigative agencies and partner nations.” but didn’t specify the United States.
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.
The widely criticized 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.
The Adani group had also been awarded a deal to construct power transmission lines in Kenya, East Africa’s business hub.
Also Thursday, Energy Minister Opiyo Wandayi told a parliamentary committee there had been no bribery or corruption involved on Kenya’s part in signing that deal.