Now the plan faces a hurdle in the form of a U.S. indictment of Adani, his nephew and executive director Sagar Adani and managing director Vneet S. Jaain, accusing them of paying bribes of $265 million to secure Indian power supply contracts, and misleading U.S. investors during fund raises there.

Some nations and investors have either scrapped deals or halted investments in the Adani Group, after the United States indicted its billionaire chairman Gautam Adani for alleged bribery and fraud to win contracts for a group company,

Adani, 62, one of Asia’s richest men, was thrust into the spotlight last week when U.S. prosecutors in New York charged him and seven of his associates with securities fraud.