Before the historic handshake, billionaire Adani wanted to pour tens of billions of dollars into Vietnam.

Recently, on his personal Twitter account, Indian billionaire Gautam Shantilal Adani shared about his meeting with Vingroup Chairman Pham Nhat Vuong. The two billionaires discussed potential business opportunities between India and Vietnam.

The Indian businessman said he was truly inspired by Mr. Pham Nhat Vuong's impressive entrepreneurial journey, from selling instant noodles to producing many electric vehicle models and advanced battery solutions towards green mobility in a record short time.

Gautam Shantilal Adani is an Indian industrial billionaire. According to Forbes, he is the 23rd richest person in the world and the second richest person in India.

He is the founder and chairman of the Adani Group, a multinational conglomerate with stakes in many listed companies. The empire spans coal mining, cement, airports, data centers, media, energy, and more.

typhus 1.png — Billionaire Pham Nhat Vuong unexpectedly met Indian billionaire Adani (Photo: Gautam Adani).

In India alone, the billionaire group is managing 8 airports, serving more than 80 million passengers per year; investing in 13 international complex ports and 5 logistics zones, in 2022 there will be more than 360 million tons of goods passing through including dry cargo, liquid gas, crude oil and containers.

Last year, Adani pledged to invest $70 billion in green energy.

He is also a leader in philanthropy, being named one of Asia’s most generous philanthropists by Forbes. The billionaire has pledged $7.7 billion to address healthcare,education and skills development needs across the country through the Adani Foundation.

Pham Nhat Vuong's VinFast has recently expressed its desire to expand its investment in India. The Vietnamese company is planning to build an electric vehicle factory in the state of Tamil Nadu or Gujarat in the country of a billion people, but the plans are only in the preliminary stage.

Before meeting with Vietnam's richest man, Adani has been present in Vietnam through two renewable energy projects since late 2021 and is committing to invest larger amounts in the future.

Specifically, Adani Group owns the Adani Phuoc Minh solar power project, through its subsidiary of the same name. The entire plant has a total capacity of 50MWp, covers an area of 59.86 hectares with a total investment of VND1,300 billion and is located in Ninh Thuan province.

Meanwhile, the Phuoc Minh wind power project is a joint venture between Adani Group and TSV Investment for investment and development. This wind power plant has a capacity of 27.3 MW, also located in Ninh Thuan province.

Other legal entities related to this billionaire's group include Adani Global Vietnam Co., Ltd. and its branch in Ho Chi Minh City, Adani Renewable PTE Joint Stock Company, Transaction Office - Business Location of Adani Phuoc Minh Wind Power Co., Ltd.

More notably, during a meeting with Prime Minister Pham Minh Chinh in May, a representative from Adani said that they were very interested and committed to long-term investment in Vietnam with a total investment capital of about 10 billion USD, not only in the fields of seaports and logistics, but also in the fields of energy and digital technology.

In particular, Adani Group wishes to build a green seaport ecosystem and invest in wind power and solar power plants in Vietnam, with a total capital of about 3 billion USD, in line with Vietnam's development strategy.

Adani representatives worked with Vietnam National Shipping Lines (VIMC) and signed a memorandum of understanding on cooperation strategy for port and logistics development. The Indian company was also previously permitted by the Da Nang People's Committee to conduct research on the Lien Chieu Seaport project.

The commitment to invest 10 billion USD in Vietnam is part of Adani Group's overseas investment strategy with a total fund value of 100 billion USD for the period 2022-2026. This is one of the largest investments made in the history of Indian businesses.

Adani Group owns world's 'top' solar power production facilities

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