Adani Enterprises Sets Sights on Nairobi Airport with $810 Million Investment Plan

Adani Enterprises, the main company of the Adani group, has formed a subsidiary in Kenya as it pushes forward with plans to manage Jomo Kenyatta International Airport in Nairobi.

The company, led by Gautam Adani, has created a fully-owned subsidiary in Kenya called Airports Infrastructure PLC (AIP), as mentioned in a statement filed by Adani Enterprises to the stock exchanges.

According to the company’s statement, AIP has been established to manage, operate, maintain, upgrade, modernise, and develop airports. AIP, which is owned by Global Airports Operator LLC, is headquartered in Abu Dhabi.

The group plans to take over the management of Nairobi’s airport and is in talks with Kenyan government officials about potential investments. However, the exact amount of the investment hasn’t been revealed.

If the deal goes through, Kenya will be the Adani group’s first venture into the airport business outside of India. In June, senior company officials revealed that the Adani group plans to invest $100 billion over the next 10 years, with $21 billion set aside specifically for the airport sector. The Adani group currently manages airports in Mumbai, Ahmedabad, Lucknow, Mangaluru, Jaipur, Guwahati, and Thiruvananthapuram.

Later this year, they plan to open a new airport in Navi Mumbai. According to a presentation to bankers, the group is actively seeking investment opportunities and expects to exceed a combined EBITDA of ₹1 trillion this financial year, compared to ₹82,917 crore in 2023. To support its growth plans, the company is planning to raise around ₹16,700 crore by selling shares to institutional investors.

About Adani Enterprises Ltd

Adani Enterprises Ltd operates in a variety of sectors, including mining, integrated resources management (IRM), and infrastructure development, such as airports, roads, railways, metro systems, water management, and data centres. The company is also involved in solar manufacturing, agriculture, and defence. Established in 1993, Adani Enterprises is a key part of the Adani Group, a major conglomerate with diverse business interests across multiple industries.

On September 5, 2024, the share price of Adani Enterprises Ltd opened at ₹3,025.00, touching the day’s high at ₹3,029.15, as of 09:47 AM on the NSE.

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