Adani Enterprises Launches Subsidiary to Develop Nairobi Airport in Kenya

Adani Enterprises, the flagship company of the Adani Group, has established a wholly-owned subsidiary in Kenya, named Airports Infrastructure PLC (AIP), to advance its plans to acquire and develop Jomo Kenyatta International Airport in Nairobi.

According to a statement filed with the stock exchanges, AIP is set up to manage a range of airport-related activities including operation, maintenance, development, design, construction, and modernization. The subsidiary is a part of Global Airports Operator LLC, based in Abu Dhabi.

Industry sources indicate that Adani Enterprises is in negotiations with Kenyan government officials regarding the investment. Although the exact investment amount has not been disclosed, reports suggest that the Indian company could invest up to $810 million, pending successful due diligence.

This move marks Adani Group's first international venture into the airport sector. The group, which currently operates airports in Mumbai, Ahmedabad, Lucknow, Mangaluru, Jaipur, Guwahati, and Thiruvananthapuram, has ambitious plans for further expansion. In June, the company announced a $100 billion investment plan for the next decade, with $21 billion allocated to the airport sector.

Additionally, Adani Enterprises is set to commission a greenfield airport in Navi Mumbai by the end of the year. To support its growth, the company plans to raise approximately ₹16,700 crore through a share sale to institutional investors. The group aims to exceed a combined EBITDA of ₹1 trillion in the current financial year, up from ₹82,917 crore reported in 2023.

BS