HomeNewsBusinessMarketsAdani, AfDB get $1.3 billion concession for Kenya power lines

Adani, AfDB get $1.3 billion concession for Kenya power lines

The Kenyan government has borrowed heavily and can ill afford to take on additional loans. To balance the need for continued investment in development, the government says it needs private money in public projects.

September 16, 2024 / 12:39 IST
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Africa50 has a PPP project to construct the 185-kilometer (115-mile) Loosuk-Lessos transmission line, according to its website
Africa50 has a PPP project to construct the 185-kilometer (115-mile) Loosuk-Lessos transmission line, according to its website

The Kenya Electricity Transmission Co. has awarded Adani Group and a unit of the African Development Bank a public-private partnership concession to construct high-voltage power lines, according to an adviser of the East African nation’s president.

“The government through Ketraco has awarded PPP concessions to Adani and Africa50 to build new transmission lines,” David Ndii, chairman of President William Ruto’s Council of Economic Advisers, said in a post on X. “They are hiring their project teams. The cost of these transmission lines is $1.3 billion that we do not have to borrow.”

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Many Kenyans have been angered about a separate proposal to grant another unit of the Indian mogul Gautam Adani’s conglomerate a 30-year concession to run the nation’s largest airport. Aviation workers held a one-day stoppage last week to protest those plans.

The Kenyan government has borrowed heavily and can ill afford to take on additional loans. To balance the need for continued investment in development, the government says it needs private money in public projects.