Adani Enterprises establishes subsidiary to develop Nairobi airport in Kenya
Mumbai: Adani Enterprises, the flagship company of the Adani Group, has established a subsidiary in Kenya as part of its strategy to take over Jomo Kenyatta International Airport in Nairobi, media reports said.
The company created a wholly-owned step-down subsidiary, Airports Infrastructure PLC (AIP), in Kenya, according to a statement filed with the stock exchanges, .
AIP is set up to handle the takeover, operation, maintenance, development, design, construction, upgrading, modernization, and management of airports, as outlined in the company's statement. AIP, owned by Global Airports Operator LLC, is based in Abu Dhabi.
If this venture is successful, it would mark the Adani Group's first international entry into the airport business.
In June, senior company officials announced plans for the Adani Group to invest $100 billion over the next decade, with $21 billion specifically earmarked for the airport sector.
On Tuesday, Adani Enterprises' shares closed flat at Rs 3,015 each, with a market value of Rs 3.43 trillion.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
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