New Delhi. In a recent research, the US government has concluded that the allegations of corporate fraud made by Hindenburg Research against billionaire Gautam Adani were not relevant. Following this conclusion, the US agency DFCS released $55.3 million for a container terminal in Sri Lanka linked to the Adani Group. An American official gave this information to a news agency. A DFCS official, speaking on condition of anonymity, said DFCS is satisfied that the allegations made in the short-seller’s report do not apply to Adani Ports and Special Economic Zone Ltd.
The official noted that the US agency will continue to monitor the firm to ensure that the US government does not inadvertently support financial misconduct or other inappropriate behavior. The deal involving Adani in Sri Lanka is part of a raft of infrastructure projects supported by the US government in Asia to counter China’s growing influence in the region as a result of President Xi Jinping’s Belt and Road Initiative.
“We see this as a reaffirmation of our vision, capabilities and governance by the international community,” Adani Ports CEO and his son Karan Adani said during the deal announcement in Colombo. After this news, there was a jump in the shares of Adani Group. In early trade on Tuesday, Sensex was trading at Rs 2,808.10, showing a gain of 276.90 points (10.94%).
Adani Green Energy on Tuesday secured $1.36 billion funding through senior debt financing, the largest funding it has received so far as a part of the construction financing framework for renewable energy projects. The company’s funding pool for initial project financing reached $3 billion in March 2021. Adani Green’s construction financing framework is backed by an international consortium of banks. The company said the green loan facility will play a key role in driving the progress of the upcoming landmark project – the world’s largest renewable energy park in Khavra, Gujarat, India.