The Adani Group, which currently operates seven airports in the country, is looking to expand abroad | Representational
Adani Group has formed a subsidiary in China to carry out business of providing supply chain solutions and project management services, according to a regulatory filing.
Adani Enterprises, the group’s flagship company, said in the filing that a Singapore-based subsidiary has incorporated a wholly-owned subsidiary, Adani Energy Resources (Shanghai) Co. (AERCL), domiciled in Shanghai, China, on September 2, 2024.
“AERCL was incorporated to carry on the business of providing supply chain solutions and project management services,” it said without providing details.
The subsidiary was incorporated by Adani Global Pte (AGPTE), Singapore, a subsidiary of Adani Enterprises Ltd (AEL).
AEL houses the conglomerate’s mining, highway, airport, data center and water infrastructure businesses.
“AERCL was incorporated and registered under the laws of the Company Law of the People’s Republic of China on September 2, 2024,” the filing said. AERCL has not yet commenced commercial operations.
The new unit comes days after AEL established a subsidiary in Kenya, Airports Infrastructure PLC (AIP), “to take over, operate, maintain, develop, design, construct, upgrade, modernize and manage airports” in the African nation.
The group, which currently operates seven airports in the country, is looking to expand abroad.
AEL had previously set up Global Airports Operator LLC, Abu Dhabi, to manage investment, acquisition, construction, operation and maintenance of airports outside India. This unit has now set up the Kenyan subsidiary.
The Adani Group has reportedly submitted a proposal to the Kenyan government to invest in its main airport, the Jomo Kenyatta International Airport (JKIA) in Nairobi. It has proposed investing €750 million in a new terminal and taxiway system by 2029 and €92 million in upgrades by 2035.
JKIA, which would be Adani’s first airport outside India, is a major hub in East Africa but has a crumbling infrastructure. It could provide Adani with a strategic advantage in the region, improving connectivity and trade routes.
Talks with the Kenyan government are continuing.
“AIP was incorporated and registered under the laws of the Companies Act of Kenya 2015 on 30th August 2024,” AEL said. AIP has not yet commenced commercial operations.
First published: September 8, 2024 | 1:31 PM IS
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