Minister of Transport Nguyen Van Thang (R) and Mr. Karan Adani, General Director of Adani Group (L) at their meeting in Hanoi on May 24 (Photo: Vietnam+) Hanoi (VNA) – The Indian-based conglomerate Adani Group is working on a seaport investment project in Vietnam with an investment of about 2 billion USD, unveiled CEO of its Adani Ports and SEZ Limited (APSEZ) Karan Adani at his meeting with Vietnamese Minister of Transport Nguyen Van Thang in Hanoi.
Accordingly, Anadi plans to invest in technical infrastructure at Lien Chieu port serving the handling of general, bulk, liquid/gaseous cargo and containers.
Adani hopes to receive the support of the Ministry of Transport to translate the project into reality as quickly as possible, the CEO said, expressed his hope to explore the prospect of investment in other seaports of Vietnam and on human resources collaboration to operate seaports, inland waterway ports, and ocean fleets.
The Indian-based conglomerate Adani Group and the Vietnam Maritime Corporation sign a memorandum of understanding on the strategy of cooperation in port and logistics development (Photo: Vietnam+) Speaking highly of the close and effective cooperation between Vietnam and India for many years, Minister of Transport Nguyen Van Thang said in the field of transport, the two sides have witnessed many cooperative activities including the signing of an air transport agreement, a bilateral maritime agreement, and many direct flights between the two countries.
With its advantage of long coastline, Vietnam can become a country with the largest transit port system in Southeast Asia, said the Minister.
The ministry is looking for port investors with financial capacity and experience, and is ready to remove difficulties and obstacles and create favourable conditions for investors and businesses, he affirmed.
Thang suggested Adani invest in a complex of port operation infrastructure and logistics industrial park at Lien Chieu and other ports in accordance with Vietnam’s current regulations.
On the same day, the Indian CEO had a meeting and signed a memorandum of understanding on cooperation strategy for port and logistics development with the Vietnam Maritime Corporation (VIMC).
With its advantage of long coastline, Vietnam can become a country with the largest transit port system in Southeast Asia. (Photo: Vietnam+) Nguyen Canh Tinh, CEO of the VIMC, said Indian firms such as the Adani Group have always been identified as the VIMC’s important strategic partner on its journey to develop its maritime and container fleet in the world, including the Indian market.
Adani expressed his belief that the combination of the two companies’ experience and expertise will contribute to improving the supply chain between Vietnam and India and to their realisation of bilateral trade goals.
Founded in 1988, Adani group now expands to over 50 countries worldwide. The multi-sectoral conglomerate sees Vietnam as an important partner in the group’s expansion overseas in the future.
The Indian corporation has been looking for other projects abroad in infrastructure, port, logistics and green energy to invest in.By the end of April 2022, its market capitalisation has exceeded 206 billion USD. Its member company Adani Ports and SEZs operates 13 international ports and five logistics centres, capable of handling about 560 million tonnes of cargo per year./.
