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India’s Adani Group plans to invest 2 billion USD in Lien Chieu Port project

Adani Group, one of the leading firms in India, has proposed an investment of 2 billion USD in Lien Chieu Port in Da Nang to help perfect the logistics ecosystem in the city and the central region of Vietnam.

At Lien Chieu port (Photo: VNA)
At Lien Chieu port (Photo: VNA)

Hanoi (VNA) – Adani Group, one of the leading firms in India, has proposed an investment of 2 billion USD in Lien Chieu Port in Da Nang to help perfect the logistics ecosystem in the city and the central region of Vietnam.

A type-1 deep-water port with a strategic location, Lien Chieu serves as a connecting point for the international East-West economic corridor and a gateway of the entire central region.

Once put into use, it will have a general wharf with a capacity of 100,000 tonnes, and a container port with a capacity of 200,000 tonnes. The State plans to invest about 3 trillion VND (118.91 million USD) in building a shared infrastructure system for the port while calling for synchronous investment in this project.

Adani Group also plans to invest 2.8 billion USD in the Vinh Tan 3 thermal power project in the south-central province of Binh Thuan. In addition, it wants to participate in the construction of phase-2 Long Thanh Airport in southern Dong Nai province and Chu Lai Airport in central Quang Nam province.

At a meeting with the Gautam Adani, Chairman and Founder of Adani Group, as part of his ongoing visit to India, Prime Minister Pham Minh Chinh assigned Minister of Planning and Investment Nguyen Chi Dung and relevant agencies and localities to directly work with Adani Group to deal with existing problems and carry out necessary procedures.

Minister Dung then held a meeting with the firm, attended by representatives from the Vietnamese Ministry of Transport and the People’s Committee of Da Nang as well as relevant agencies.

At the meeting, Dung learned about problems facing the firm in the implementation of projects in Vietnam, and asked relevant parties to immediately carry out several activities to implement the Lien Chieu port project and others soon.

For the Lien Chieu Port project, Vietnam aims to choose an investor for its general infrastructure system. Foreign firms can cooperate with local businesses to exploit the port in line with the law, said Dung, pledging to coordinate with relevant agencies of Vietnam to support and remove obstacles facing businesses.

The Adani Group’s representative said that the firm will finalise investment procedures for the project and coordinate closely with the Ministry of Planning and Investment of Vietnam to launch the project soon. At the same time, the group will engage more deeply in many other projects in Vietnam.

Adani Group operates India's largest airport and runs Mundra Port - the country's largest port. It also invests in the fields of power transmission and green energy. According to the latest Forbes ranking, Gautam Adani is now the second richest man in Asia with a fortune of 87.6 billion USD./.

VNA
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