Gautam Adani, the founder of India's Adani Group, has been indicted by US prosecutors in a $265 million bribery scandal. Two of the group's major projects in Kenya were subsequently cancelled. However, Adani Group has denied all the allegations leveled against them.
The allegations of bribery are mainly related to the solar power deal with the Indian government. They are accused of bribing government officials to buy electricity at higher prices.
Adani Group has more mega projects in different countries worldwide. Bangladesh is one of them. Adani's share price fell sharply after the bribery scandal came to light. Now Prime Minister Narendra Modi's blessed Adani Group in India is in danger of losing investment. It is feared that their lenders may also be in trouble.
Here is a list of Adani Group's major international projects:
Port of Haifa, Israel
Adani Ports, India's largest private port operator, owns 70 percent of Israel's northern port of Haifa, with the rest owned by Israel's Gadot Group.
The port was bought for 1.2 billion in early 2023, reviving hopes of creating a commercial gateway between the terminal and other regions of the Middle East, particularly Saudi Arabia, with which Israel does not have diplomatic relations.
Haifa Port accounts for 3 percent of Adani Ports' annual cargo volume.
Australia's Carmichael mine
Adani Group bought the controversial Carmichael coal mine project in Queensland, Australia in 2010.
Bankers, insurance companies and engineering companies pulled out of the project after seven years of protests by climate activists, who were concerned about the project's greenhouse gas emissions and damage to the Great Barrier Reef.
The mine did not become operational until the first cargo was shipped in December 2021.
The mine has an annual production capacity of 10 million tonnes. However, this is far less than the previously projected 60 million.
The group has also faced allegations of racism at its coal unit in Australia. A tribal group there has also filed a complaint with the Human Rights Commission.
Colombo port in Sri Lanka
Adani Ports owns 51 percent of a new container terminal project in Sri Lanka's capital, Colombo.
An agreement was signed in 2021 for the development of the West Container International Terminal, which will be jointly operated by Sri Lanka's John Keels Holdings and Sri Lanka Ports Authority.
Last year, $553 million in funding was raised through the US International Development Finance Corporation for the project.
Power project in Bangladesh
Adani Power only supplies power to Dhaka, the capital of Bangladesh, from its 1,600 MW Godda plant in the eastern Indian state of Jharkhand. In Bangladesh, they are also accused of keeping electricity prices high.
Deliveries begin in April 2023. However, Adani Power has recently stopped supply for the second time due to non-payment of dues. They owe more than 800 million dollars to the government of Bangladesh. The government has already opened LCs to repay it amid the ongoing political crisis.
Foreign hydropower projects
Adani Group plans to build 10 GW of hydropower projects in the next few years.
The group is exploring the possibility of building hydropower projects in countries such as Nepal, Bhutan, Kenya, Tanzania, the Philippines and Vietnam.
Tanzania
This year a unit of Adani Ports signed a contract to operate the main container terminal in Dar es Salaam, the capital of Tanzania, for 30 years.
The unit has formed a joint venture with Abu Dhabi-based AD Ports Group and East Africa Gateway. They bought a 95 percent stake in the terminal for $39.5 million.
Vietnam
Adani Group is considering investing in two airports in the Southeast Asian country. The Vietnamese government reported this information last July.
The Vietnamese government also said last year that Adani Group was considering investing $3 billion in seaports and renewable energy projects.
