As Adani made headlines in Bangladesh, the interim government accused them of operating outside the law and charging higher electricity prices.
Muhammad Yunus’ interim government in Bangladesh has announced plans to review the 2017 power purchase agreement with Adani Power Ltd.
The interim administration intends to closely scrutinise the terms of the deal to determine the fairness of electricity pricing.
An anonymous official reportedly stated, “We will investigate the contracts involving Indian businesses such as Adani, scrutinising the terms and conditions to ensure that foreign companies adhere to local laws.”
The move comes after Adani also took over JKIA in Kenya. In a media interview, CS Transport Davis Chirchir implied to Sam Gituku that the government’s consideration of Adani for the JKIA deal stemmed from the lack of time for an open bidding process.
A government spokeswoman wrote on X that “JJKIA requires urgent expansion due to increasing passenger and cargo traffic, with current numbers exceeding its design capacity.”
“JKIA expects to handle 32 million passengers and nearly 1 million metric tonnes of cargo by 2054, compared to 8.6 million.”
Adani will also take over power lines in KETRACO if the deal goes through. KenGen will also not be spared in the power deal with Adani.
Swiss authorities have also frozen more than $310 million in funds across multiple Swiss bank accounts as part of a money laundering and securities forgery investigation into Adani, dating back as early as 2021.
A Swiss media outlet reported newly released Swiss criminal court records detailing how an Adani frontman invested in opaque BVI/Mauritius & Bermuda funds that almost exclusively owned Adani stocks.
