Adani starts supply chain company in China
Registered share capital of Adani Energy Resources (Shanghai) is $2.1 million
Singapore-based Adani Global Pte, a step down subsidiary of Adani Enterprises, has incorporated a wholly-owned subsidiary, Adani Energy Resources (Shanghai) domiciled in Shanghai, China.
The registered share capital of AER is $2.1 million, according to a filing with the stock exchanges.
"AER is incorporated to carry out business of providing supply chain solutions and project management services," the release added.
AER is yet to commence operations, and Adani Global would hold 100 percent share capital of the company now.
Expanding global footprint
Adani Airport Holdings (AAHL) has proposed to undertake a significant upgrade of Jomo Kenyatta International Airport (JKIA) in Nairobi.
"The proposal, under the Public Private Partnerships Act 2021, will see Adani Airport Holdings invest in a new passenger terminal building, second runway and refurbishment of the existing facilities at JKIA, according to the official statement released by Henry Ogoye, Acting MD and CEO, KAA."
The JKIA investment marks a significant expansion of Adani's footprint in Africa, following the announcement of its acquisition of a majority stake in Tanzania International Container Terminal Services (TICTS) and 80 percent acquisition of Astro Offshore for $185 million.