The Kenyan government has announced its readiness to engage a new investor to oversee the expansion of Jomo Kenyatta International Airport (JKIA).

This development follows the cancellation of a proposed deal with Adani Group, an Indian multinational conglomerate.

The President made this announcement on Thursday, November 21 during his State of the Nation speech.

Treasury Cabinet Secretary John Mbadi confirmed the decision during an event in Kisumu on Saturday, November 23.

He clarified that the agreement with Adani Group was structured as a Privately Initiated Partnership (PIP), a framework that grants the government the flexibility to terminate negotiations before formal contracts are signed.

“The Adani procurement system was a PIP, which meant that it could be terminated at any time, at any stage, so long as you have not signed the contract,” Mbadi announced.

“We are still open to any other investor out there who wants to come in and invest by partnering with the government to develop JKIA,” he added.

The announcement signals a renewed search for credible investors to take up the project.

This decision is expected to attract attention from both local and international firms, given the strategic importance of JKIA as one of East Africa’s busiest airports.

“The investment is a must because we need to address the state of JKIA.

JKIA is now outdated and dilapidated. It is not an airport that can compete with others in the region,” the treasury CS noted

Mbadi made the remarks following President Ruto’s termination of the Ksh338 billion JKIA-KETRACO-Adani accords.

The cancellation followed the Department of Justice (DOJ) in New York indicting Gautam Adani, the founder and CEO of the multibillion-dollar Indian business Adani, and seven other executives on November 20 for allegedly bribing Indian government officials.

Adani, meanwhile, has publicly refuted the claims, calling them “baseless” accusations.