Adani Group Revives US Infrastructure Plans Amid Bribery Charges

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Adani Group Eyes U.S. Infrastructure Amid Legal Challenges

In a move signaling renewed ambition, India's Adani Group is revisiting its plans to invest substantially in U.S. infrastructure projects, despite its founder facing serious legal accusations. According to a Financial Times report, the conglomerate is considering ventures in several key sectors, including nuclear energy and utilities, along with a potential development of an East Coast port.

The initiative comes in the wake of allegations against Gautam Adani, the group's founder, who has been indicted in New York for allegedly bribing Indian officials to secure electricity purchase agreements for Adani Green Energy. While federal prosecutors unveiled these charges in November, a person close to Adani remarked, "We know what we want to do, but we will wait until this (case) resolves."

The Adani Group has dismissed the allegations as "baseless" and is committed to "all possible legal recourse." Despite the legal challenges, there has been no immediate reaction from the group regarding the latest report by Reuters.

Historically, the Adani Group has engaged in discussions with American companies about strategic collaborations and evaluated petrochemical projects in Texas. The company's interest in U.S. investments was revitalized following President Donald Trump's election, as Gautam Adani announced plans to inject $10 billion into U.S. energy and infrastructure, potentially creating up to 15,000 jobs. Trump’s policies to simplify drilling on federal lands and pipeline construction have further encouraged these ambitions.

The Financial Times cited yet another unnamed source stating, "Once Trump came in, we have reactivated some plans," indicating a correlation between Trump’s administration and Adani’s renewed U.S. investment strategy.

Meanwhile, the U.S. Securities and Exchange Commission (SEC) has sought assistance from Indian authorities in probing allegations against Gautam Adani and his nephew, Sagar Adani. The investigation concerns a $265-million bribery scheme and securities fraud. In addition, a 2023 report from the now-defunct U.S.-based Hindenburg Research accused the conglomerate of stock manipulation and improper use of offshore tax havens, which led to a significant $150 billion drop in the value of Adani's companies’ shares—allegations that the Adani Group has also denied.

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