New Delhi: The criminal indictment against Gautam Adani and his business associates by the US Department of Justice, accusing them of offering bribes to Indian government officials for securing energy projects, may have repercussions for his global business empire.
With a presence across several countries—including Sri Lanka, Thailand, Vietnam, and China—the Adani Group operates a network of 20 ports and footprints in various sectors. like coal mining, infrastructure, airports, defence and water.
Kenyan President William Ruto has already cancelled two projects that his government had signed with Adani and more countries may possibly follow suit.
ThePrint looks at some of the conglomerate’s prominent international projects.
Australia
In 2010, the Adani Group announced a coal mining project in Queensland, Australia. Initially planned to export 60 million tonnes of coal a year from the ‘Carmichael mine’, the project experienced several delays.
Environmental concerns and pushback from the local population resulted in financiers and engineering firms backing away from the project.
In 2018, the construction of the mine was finally approved by the Australian government. The group revised the mine’s capacity to 10 million tonnes a year on the back of an incessant “Stop Adani” campaign in Australia, according to Reuters.
In December 2021, the first shipment of coal from the mine was being assembled for export.
Indonesia
Bunyu Island in Indonesia was the Adani Group’s first overseas coal mining project.
PT Adani Global, a subsidiary of Adani Enterprises, had acquired an ‘Exploitation License’ from the Indonesian government back in 2007. According to the group’s website, the Indonesian subsidiary has set up a 2500 TPH (tonnes per hour) coal terminal to service its mining operations.
In October 2023, Mint had reported that Adani Ports and Special Economic Zone Ltd (APSEZ) was in talks with the Indonesian government to develop Sabang Port. The group’s initial investment into the port is estimated at $1 billion.
Kenya
The Adani Group ventured into Kenya through public-private partnerships in 2024.
Adani Airport Holdings Limited (AAHL) entered into a $1.85 billion deal with the Kenyan government for a 30-year lease of Nairobi’s Jomo Kenyatta International Airport (JKIA).
In October, the Adani Group signed a $736 million deal with state-owned Kenya Electrical Transmission Company (KETRACO) for building and operating power infrastructure.
However, the High Court of Kenya blocked both proposals on the back of protests, senate hearings and lawsuits against the conglomerate.
Now, after the US indictment, Kenya has ordered the ministries of transport and energy to cancel the procurement process with the Adani Group.
China
In September this year, the Adani Group incorporated a subsidiary in China for providing supply chain solutions and project management services. Adani Energy Resources (Shanghai) is responsible for the group’s mining, roads, airports, data center and water businesses.
Vietnam
In 2018, the Adani Phuoc Minh Wind Power Plant project was approved as a joint venture (JV) between the Adani Group and Vietnam’s TSV. Commercial operations were launched in 2021. Another JV with TSV, Adani Phuoc Minh Solar Power Plant, was commissioned in 2020 and is currently operational.
In July 2024, after a meeting between Vietnamese Prime Minister Pham Minh Chinh and Gautam Adani in India, it was reported that the Adani Group was looking at investing $10 billion into Vietnam.
Fortune reported that the investments included a $2 billion infusion into Lien Chieu Port in the coastal city of Da Nang. The conglomerate was also reportedly interested in the construction and expansion of Long Thanh and Chu Lai airports.
The Adani Group has not released any official statement on its investment strategy in the region after the chairperson’s meeting with the Vietnamese prime minister.
Also Read: Code name for Adani, PPT on bribes, cellphone notes on corrupt officials—Inside US indictment
Malaysia
In April 2017, APSEZ signed a Memorandum of Understanding with MMC Ports to conduct a feasibility study for building a port at Carey Island, located 50 km southwest of Kuala Lumpur.
APSEZ signed a second MoU with MMC Ports and Sime Darby Property to study the feasibility of building an integrated maritime city on Carey Island to support the new port.
Sri Lanka
In May 2024, the Adani Group entered into a 20-year power purchase deal with the Sri Lankan government. Adani Green Energy was to invest $440 million for the development of two wind farms in the country’s northern provinces.
The investment represented Sri Lanka’s largest foreign direct investment and largest renewable energy initiative till date.
In October, The Economic Times reported that the new Sri Lankan government, led by President Anura Kumara Dissanayake, would “reconsider the approval granted by the former government”.
Israel
In January last year, the Adani Group acquired the Israeli port of Haifa for $1.2 billion. The announcement was made soon after Hindenburg Research published its report alleging that Adani had engaged in stock manipulation and accounting fraud.
Also Read: How an indictment works in the US legal system & what comes next for Gautam Adani, others