New Delhi: Adani group has planned to invest US 2 billion dollars to develop the Lien Chieu port project in the central coastal city of Da Nang in Vietnam, weeks after the company revealed it had permission to build a seaport in the country, a statement by the Vietnamese Prime Minister's office said.
This was announced by business tycoon Gautam Adani during his meeting with Vietnamese PM Pham Minh Chinh here on Wednesday, July. Prime Minister Pham is on an official visit to New Delhi from July 30 to August 1 to attend the Viet Nam-India Business Forum in New Delhi organised by FICCI.
During the meeting, the Vietnamese PM noted that his country would create favorable ways for foreign investors to participate in essential infrastructure projects in Vietnam such as highways, airports, seaports, metro, logistic centers and high-speed rail lines.
The PM further suggested that the Adani group bring advanced, new, and clean technologies as well as modern management with high added value to Viet Nam. Regarding the Lien Chieu port project, he suggested the group to work with the local authorities of Da Nang City to resolve procedure hindrances.
"Adani is planning to strengthen cooperation with Vietnamese partners in the fields of aviation and logistics, via the construction of Long Thanh airport and Chu Lai airport," the official statement said, referring to two major airports in the south and central regions.
The host leader welcomed Adani for its cooperation with SOVICO to build Chu Lai airport in the short term and study investment for the second phase of Long Thanh airport. In term of energy cooperation, PM Pham suggested the conglomerate discuss with the Ministry of Industry and Trade, the Electricity of Viet Nam, relevant ministries and agencies to implement specific renewable energy projects.
Meanwhile, Adani hopes to engage in energy projects in Binh Thuan province specifically the Vinh Tan 3 thermal power plant with an initial investment capital of US$2.8 billion and study investment in building the Chu Lai airport.
The Lien Chieu Port project is a significant infrastructure project aimed at developing a new deep-sea port in Lien Chieu District, Da Nang City, Vietnam. This project is part of Vietnam's broader strategy to enhance its maritime infrastructure and accommodate larger vessels, thereby boosting trade and economic activities in the region.
India and Vietnam have a history of economic cooperation, and Indian companies have shown interest in various infrastructure projects in Vietnam, including ports and logistics.
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