Adani Group exploring $3-billion investment in Vietnam

Cont’d. from Pg. 4 “AdaniGroupwantstodevelopaseaport ecosystem as well as wind and solar energy projects in Vietnam, with a combined investment of $3 billion,” the Vietnamese governmentsaidinastatement.

Vietnamese Prime Minister Pham Minh Chinh receivedKaranAdani,ChiefExecutiveOfficerofAdani Ports and Special Economic Zons Ltd (APSEZ), in Hanoirecently.

Chinh briefed Karan Adani on Vietnam’s development orientations focused on three strategic breakthroughs, namelyperfectin.

Vietnam creates the best possible conditions for foreignbusinesses,includingthosefromIndia,toinvestin strategic infrastructure such as transport, energy, digital and climate change infrastructure, in the country, he stressed.

He noted that digital transformation to build a digital economy and digital society is an irreversible trend of the world at present, and Vietnam is not an exception. He expressed his hope that Adani Group would expand its investmentstronglyinthisfieldinVietnam.

Karan Adani said Adani Group is the leading economic groupinIndiaoperatinginmultiplefieldssuchasseaport, transportation, logistics, energy, and digital technology in morethan50countriesaroundtheworld.

Following the recent fact-finding tour, he said the conglomerate has decided to pour long-term investments in Vietnam, not only in seaports and logistics, but also in energyanddigitaltechnology.

AdaniGroupwishestobuildagreenseaportecosystem and invest in wind and solar power plants in Vietnam, withatotalcapitalofabout$3billion,saidKaranAdani.

He assured his host that the conglomerate would soon work alongside relevant ministries and agencies of Vietnam to develop specific cooperation projects.

“Vietnam is willing to create more favourable conditions for India’s large companies, including Adani, to invest and do business in the country,” Chinh told Karan at the meeting, according to thestatement.

Chinh said Vietnam welcomed Adani’s investment, initially in Lien Chieu Port in the central city of Danang,accordingtothestatement.

Karan told Chinh that Adani would soon work with Vietnamese partners and stakeholders on specific investment projects in the country, according to the statement, which said the investment could reach $10billionoverthelongerterm.

Earlier this month, Adani Ports and Special EconomicZoneLtdsaidithascompletedthesaleofits Myanmar port Coastal International Terminals Pte Limitedfor$30million.