Adani Enterprises, the flagship company of Indian billionaire Gautam Adani, has established a Kenyan subsidiary as it intensifies efforts to take over operations at Nairobi’s Jomo Kenyatta International Airport (JKIA). The subsidiary, named Airports Infrastructure PLC (AIP), was incorporated on August 30 and is designed to manage, upgrade, and modernize JKIA. Despite facing significant opposition from Kenyan transport workers concerned about job security, Adani remains committed to the JKIA takeover. The company’s proposal to the Kenya Airports Authority includes a $750 million investment for a new terminal and taxiway system by 2029, with an additional $92 million for further improvements by 2035. Adani plans a city-side development featuring hospitality and business centers, aiming for an 18% internal rate of return (IRR) over a 30-year concession period.
SOURCE: EAST AFRICAN