Leading Indian corporation plans to invest 2 billion USD in Lien Chieu port

The Chairman of Adani Group - one of India's leading corporations - said that he is proposing to invest in Lien Chieu Port (Da Nang) with a total estimated capital of 2 billion USD. This seaport is expected to complete the logistics ecosystem for Da Nang and the Central region.

Minister Nguyen Chi Dung worked with representatives of Adani Group (India).

During the State visit of Prime Minister Pham Minh Chinh to India from July 30 to August 1, implementing the Prime Minister's direction, Minister Nguyen Chi Dung had a meeting with Adani Group (India). Also attending were representatives of the Ministry of Transport, Da Nang People's Committee and related units.

In addition to the total capital expected to reach over 2 billion USD proposed for investment in Lien Chieu port, Adani also wishes to deploy energy investment activities in Binh Thuan, specifically the Vinh Tan 3 Thermal Power Project, with a total investment expected to reach 2.8 billion USD. In addition, Adani is also planning to strengthen cooperation with Vietnamese partners in the fields of aviation and logistics, such as the construction of Long Thanh airport phase 2 and Chu Lai airport.

"With our financial and technical capabilities, we will participate deeply in many projects in Vietnam. That is my personal commitment," said Mr. Gautam Adani - Chairman of Adani Group.

After listening to questions and issues raised with Adani in the process of promoting projects in Vietnam , Minister Nguyen Chi Dung requested that the parties immediately implement a number of contents to be able to soon deploy investment in the Lien Chieu seaport project in Vietnam as well as other projects, in accordance with the provisions of Vietnamese law.

For the Lien Chieu port project, the Vietnamese side intends to select an overall infrastructure investor. As for the exploitation of this seaport, foreign enterprises can cooperate with domestic units according to the law. Therefore, Adani and the consortium of Anh Phat Construction Investment and Trading Corporation need to urgently complete the procedures according to the provisions of Vietnamese law.

"If you have any problems or need any support, please share and discuss with us. We will work with Vietnamese authorities to research, resolve, and support," said the Minister.

Adani Group representative said that they will continue to speed up the completion of project investment procedures, closely coordinate with the Ministry of Planning and Investment and relevant agencies of Vietnam to soon implement the project according to regulations.

Adani Group is the operator of India's largest airport and controls Mundra Port, India's largest port. The group also invests in power transmission and green energy. Mr. Gautam Adani, 61, was once the richest man in Asia and the third richest in the world with a fortune of more than 150 billion USD in September 2022. According to the latest Forbes ranking, he is now the second richest person in Asia with a fortune of 87.6 billion USD, behind his compatriot Mukesh Ambani.

Lien Chieu is planned to be a deep-water port of type I with an important position, a connection point of the international East-West economic corridor, and a gateway to the entire Central region. When put into use, the port's general wharf will have a scale of 100,000 tons, and a container port of 200,000 tons. This port has a capacity of about 100 million tons of goods passing through a year by 2045. It is estimated that the State will pour about 3,000 billion VND to invest in shared infrastructure and call for synchronous investment in this seaport./.

Minh Ngoc

Source: https://baochinhphu.vn/tap-doan-hang-dau-an-do-du-kien-dau-tu-2-ty-usd-vao-cang-lien-chieu-102240802081331355.htm?gidzl=emBlSKKpoYEj6kntGI_EBQqUuNXTBiSZjn7c9LvpatEqGROd2twKSEqRiIe7VfTvxa_ZA3FU1nTZJpVB9G