Adani Enterprises has established a wholly-owned subsidiary in Kenya, Airports Infrastructure PLC (AIP), as part of its bid to acquire Jomo Kenyatta International Airport in Nairobi. Owned by Abu Dhabi-based Global Airports Operator LLC, AIP will handle all aspects of airport management. Although the exact investment amount is undisclosed, sources suggest it could reach up to USD 810 million if due diligence is successful. This would mark the Adani Group's first international airport venture. The company plans to invest USD 100 billion over the next decade, with USD 21 billion for airports, and aims to surpass INR 1 trillion in EBITDA this financial year.
Adani Enterprises, the flagship company of the Adani Group, has established a subsidiary in Kenya as part of its efforts to acquire Jomo Kenyatta International Airport in Nairobi. The company has set up a wholly-owned subsidiary, Airports Infrastructure PLC (AIP), according to a statement filed with the stock exchanges. AIP has been created to take over, operate, maintain, develop, design, construct, upgrade, modernise, and manage airports, as stated by Adani Enterprises.
Airports Infrastructure PLC (AIP), owned by Global Airports Operator LLC based in Abu Dhabi, is reportedly focused on managing Nairobi's airport. Industry sources indicate that the Adani Group is in discussions with Kenyan government officials regarding investment opportunities. Although the exact investment amount has not been disclosed, it is believed that the Indian company could invest up to USD 810 million, provided due diligence is successfully completed. An email seeking comment from a spokesperson for the Adani Group did not receive a response.
If successful, this would mark the Adani Group's first international venture in the airport sector. In June, company executives revealed plans to invest USD 100 billion over the next decade, with USD 21 billion earmarked specifically for airports. Currently, the group operates airports in Mumbai, Ahmedabad, Lucknow, Mangalore, Jaipur, Guwahati, and Thiruvananthapuram. It is also set to launch a new greenfield airport in Navi Mumbai by the end of the year. The group is exploring further investment opportunities, aiming to exceed combined earnings before interest, tax, depreciation, and amortisation (EBITDA) of INR 1 trillion in the current financial year, up from INR 82,917 crore in 2023. To support its expansion, Adani Enterprises plans to raise approximately INR 16,700 crore through a share sale to institutional investors. On Tuesday, the company's shares closed unchanged at INR 3,015 each, with a market value of INR 3.43 trillion.
Adani Enterprises has set up Airports Infrastructure PLC in Kenya to pursue the acquisition of Jomo Kenyatta International Airport, marking its first international airport venture. The potential investment could reach up to USD 810 million, pending successful due diligence. This move aligns with the group's broader strategy to invest USD 100 billion over the next decade, with USD 21 billion reserved for airports. The company operates multiple Indian airports and plans to open a new greenfield airport in Navi Mumbai by year-end. To support its expansion, Adani Enterprises is preparing to raise about INR 16,700 crore through a share sale to institutional investors.
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