India's Adani Group pushing for investment in Vietnam's seaport

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 a meeting with Vietnamese Minister of Transport Nguyen Van Thang in Hanoi on May 24.

Accordingly, Anadi plans to invest in technical infrastructure at Lien Chieu port serving the handling of general, bulk, liquid/gaseous cargo and containers.

Minister of Transport Nguyen Van Thang and CEO of Adani Group's Adani Ports and SEZ Limited (APSEZ) Karan Adani at their meeting in Hanoi on May 24.

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.

Minister Thang said given the limited number of Indian enterprises in Vietnam, the presence of Adani is a positive signal, opening up further cooperation prospects between the nations in the near future.

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).

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.

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Source: VNA