Adani Group last week denied all allegations as baseless and said it would seek legal recourse to defend itself.
At the same time, the International Holding Company of Abu Dhabi also reaffirmed his support for the Adani Group, saying its investment prospects remain unchanged.
« As with all of our investments, our team continually monitors relevant information and developments. At this time, we remain confident in our prospects for these investments, » IHC said in a statement.
The Tanzanian government also reiterated its full commitment to its agreements with Adani Ports, saying there are no concerns regarding the ongoing projects and that all contracts are in full compliance with national laws.
In May 2024, Tanzania and Adani Ports finalized a 30-year concession agreement for the operation of Container Terminal 2 at the Port of Dar es Salaam.
Separately, Adani Ports acquired a 95% stake in Tanzania International Container Terminal Services, a state-owned company, for $95 million.
