Adani Group's $1.3 Billion Kenya Power Line Deal Faces Uncertainty

Kenya Electricity Transmission Co. clarifies ongoing negotiations despite earlier reports of finalized agreements.

• Kenya Electricity Transmission Co. (Ketraco) is still in talks with Adani Energy Solutions Ltd. for constructing three high-voltage power lines.
• Contradictory reports emerged after a presidential adviser claimed that deals worth $1.3 billion had been awarded to Adani and Africa50.
• The initial project cost of $1.01 billion was revised to $736.5 million, reflecting significant cost adjustments.
• Kenya faces a $5 billion financing gap for power infrastructure and cannot depend solely on the National Treasury for funding.
• A separate proposal to grant Adani a 30-year concession to run Kenya's largest airport has sparked public outcry and strikes among aviation workers.

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