Page 49 - Construction_Opportunities_September_2024

TICKER TAPE
INTERNATIONAL

ADANI ENTERPRISES LAUNCHES SUBSIDIARY TO DEVELOP could invest up to $810 million, pending successful due diligence.
NAIROBI AIRPORT IN KENYA This move marks Adani Group’s first international venture into the
Adani Enterprises, the flagship company of the Adani Group, has airport sector. The group, which currently operates airports in
established a wholly-owned subsidiary in Kenya, named Airports Mumbai, Ahmedabad, Lucknow, Mangaluru, Jaipur, Guwahati,
Infrastructure PLC (AIP), to advance its plans to acquire and and Thiruvananthapuram, has ambitious plans for further
develop Jomo Kenyatta International Airport in Nairobi. expansion. In June, the company announced a $100 billion
According to a statement filed with the stock exchanges, AIP is investment plan for the next decade, with $21 billion allocated
set up to manage a range of airport-related activities including to the airport sector.
operation, maintenance, development, design, construction, and Additionally, Adani Enterprises is set to commission a greenfield
modernization. The subsidiary is a part of Global Airports Operator airport in Navi Mumbai by the end of the year. To support its
LLC, based in Abu Dhabi. Industry sources indicate that Adani growth, the company plans to raise approximately `16,700 crore
Enterprises is in negotiations with Kenyan government officials through a share sale to institutional investors. The group aims to
regarding the investment. Although the exact investment amount exceed a combined EBITDA of `1 trillion in the current financial
has not been disclosed, reports suggest that the Indian company year, up from `82,917 crore reported in 2023.

JAPAN’S SUMITOMO PARTNERS WITH AMPIN ENERGY TO of power to industrial customers in the coming years. The focus
INVEST `6,000 CRORE IN RENEWABLE ENERGY PRODUCTION will be on acquiring new clients, particularly Japanese-affiliated
Japan’s Sumitomo Corporation has formed a joint venture commercial and industrial companies operating in India.
with India’s Ampin Energy Transition to establish a new holding Delhi-based Ampin Energy, a major player in renewable energy
company that will invest 100 billion yen (approximately `6,000 development with a portfolio of 4 GW and plans to expand to
crore) in developing renewable energy sources. The venture, 10 GW by 2030, will bring its local expertise to the partnership.
named Ampin C&I Power, will focus on supplying power through Sumitomo’s investment will support its strategy of developing a
power purchase agreements (PPAs) to corporate clients. green power platform in India, integrating renewable energy
This collaboration marks Sumitomo’s entry into India’s corporate generation with direct supply to client companies.
PPA market, with plans for future expansion. Sumitomo will hold a This joint venture represents Sumitomo’s first initiative to supply
49% stake in the joint venture, while Ampin will retain the majority renewable energy to Indian companies, addressing the country’s
ownership. The new venture will provide renewable energy from increasing energy needs driven by rapid population and
sources such as solar and wind, aiming to deliver 1 GW (gigawatt) economic growth.

DCX SYSTEMS WINS $22.3 MILLION INTERNATIONAL milestone for DCX Systems’ international business, as it will leverage
CONTRACT. the company’s Aerospace SEZ Sector facility in Bengaluru for
DCX Systems Limited, an Indian aerospace and defense firm, manufacturing the electronic kits. This achievement underscores
has secured a significant international contract valued at $22.3 the growing strength of India’s aerospace and defense
million (approximately `187.29 crore). The order, awarded by an manufacturing sector. It highlights DCX Systems’ competitive edge
overseas customer, involves supplying electronic kits and is set to in the global market and its capability to deliver sophisticated
be completed within the next 12 months. The contract is a major electronic systems for defense applications.

SEPTEMBER 2024|CONSTRUCTION OPPORTUNITIES 49