Tanzania Stands Firm on Adani Contracts Amid U.S. Indictment

Tanzania plans to uphold its contracts with Adani Group's unit despite the U.S. indictment of Gautam Adani for alleged bribery and fraud. Tanzania Ports Authority emphasized compliance with local laws, maintaining agreements on the 30-year terminal concession. Kenya recently terminated deals with Adani Group.

Tanzania intends to uphold its contractual commitments with an Adani Group unit, despite a U.S. indictment against Gautam Adani, the group's billionaire chairman, for charges of bribery and fraud. A senior official from the Tanzanian ports authority affirmed this stance.

Adani, along with his nephew, faces allegations connected to a $265 million scheme to bribe Indian officials for power-supply contracts. Despite denying these accusations, the Adani Group is under scrutiny. Nevertheless, Tanzania recently entered a long-term agreement allowing Adani Ports to manage Container Terminal 2 at Dar es Salaam port.

The arrangement includes Adani Ports acquiring a 95% stake in the Tanzania International Container Terminal Services for $95 million. Tanzania Ports Authority Director General Plasduce Mbossa assured, 'Everything we are doing is according to our laws and agreements.' This development follows Kenya's recent decision to cancel infrastructure deals with an Adani entity.

(With inputs from agencies.)