Thu Nov 21 15:14:04 UTC 2024: ## Adani Indictment Fuels Calls for Sri Lanka to Scrutinize Power Project

**Colombo, Sri Lanka –** The indictment of Gautam Adani and seven others on multiple counts of fraud in the United States has intensified calls for a thorough review of the Adani Group’s wind power project in Sri Lanka. The $442 million project, located in Mannar and Pooneryn, has been controversial since its inception in 2022, facing accusations of a “backdoor entry” without an open tender process.

Following the indictment, Sri Lankan citizens and activists took to social media demanding greater scrutiny. Newly elected President Anura Kumara Dissanayake, who secured a two-thirds majority in the recent general election, had previously vowed to cancel the “corrupt Adani deal.” His government has pledged to review the project, echoing concerns raised by the International Monetary Fund regarding corruption vulnerabilities in Sri Lanka.

Experts, including Nishan De Mel of Verité Research, highlighted Sri Lanka’s history of corruption cases exposed internationally, urging the country to strengthen its anti-corruption efforts. The project’s lack of transparency and potential environmental impact have also been challenged in the Sri Lankan Supreme Court.

Shihar Aneez, a consultant editor with Economynext, noted that ambiguity surrounds the project’s nature – whether it’s a government-to-government deal or a private sector investment. He advocated for an open tender process, stating that the Adani Group could re-bid for the project. The recent indictment, coupled with a Bangladesh High Court order for a probe into a similar Adani power agreement, casts further doubt on the credibility of the Adani Group’s projects across the region. The Sri Lankan government’s increased bargaining power, following the indictment, may also influence future negotiations.

The Adani Group’s other major investment in Sri Lanka, a container terminal project in Colombo, has also received a $553 million investment from the U.S. International Development Finance Corporation (DFC). The unfolding situation underscores the need for transparency and accountability in international business dealings.

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