Adani Enterprises establishes subsidiary to develop Nairobi airport in Kenya

The company created a wholly-owned step-down subsidiary, Airports Infrastructure PLC (AIP), in Kenya, according to a statement filed with the stock exchanges, .

AIP is set up to handle the takeover, operation, maintenance, development, design, construction, upgrading, modernization, and management of airports, as outlined in the company's statement. AIP, owned by Global Airports Operator LLC, is based in Abu Dhabi.

If this venture is successful, it would mark the Adani Group's first international entry into the airport business.

In June, senior company officials announced plans for the Adani Group to invest $100 billion over the next decade, with $21 billion specifically earmarked for the airport sector.

On Tuesday, Adani Enterprises' shares closed flat at Rs 3,015 each, with a market value of Rs 3.43 trillion.