Adani Group is set to invest over $2 billion in Lien Chieu port, in Vietnam's coastal city of Danang, according to a statement on the Vietnamese government's website.
Group Chairman Gautam Adani discussed the investment with Vietnamese Prime Minister Pham Minh Chinh when they met in New Delhi on Wednesday.
Prime Minister Chinh arrived in Delhi late Tuesday for a three-day state visit aimed at strengthening longstanding ties between Vietnam and India.
The Adani Group has proposed a comprehensive investment plan to develop a complete logistics ecosystem in Danang. Additionally, the group plans to invest approximately $2.8 billion in the Vinh Tan 3 Thermal Power project in Binh Thuan. The group also intends to collaborate with Vietnamese partners in aviation and logistics, including the construction of the second phase of Long Thanh airport and Chu Lai airport.
(Source: Vietnamese State Government Electronic Newspaper)
Following their meeting, the Prime Minister directed the People's Committee of Danang City, the Ministry of Transport, the Ministry of Planning and Investment, and other relevant agencies to engage with Adani Group to expedite the project, ensuring all procedures are followed, according to regulations.
Adani Group expressed hope that the Vietnamese government would support and facilitate these investment initiatives. The Prime Minister welcomed the group's proposal to participate in Long Thanh airport phase 2, Chu Lai airport, and requested discussions with Vietnamese agencies. The Prime Minister also requested Adani to complete the dossier on energy cooperation.
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