Indian billionaire Gautam Adani considers $2B investment in Da Nang’s Lien Chieu Port

He also expressed his intention to invest $2.8 billion in the Vinh Tan 3 Thermal Power Plant located in central Binh Thuan Province, during a meeting with Vietnamese Prime Minister Pham Minh Chinh on Wednesday.

Adani has shown interest in constructing the second phase of Long Thanh International Airport in Dong Nai Province and Chu Lai Airport in Quang Nam Province.

“With our financial and technical resources, we are committed to being deeply involved in various projects across Vietnam,” he assured PM Chinh during the latter’s visit to India from July 30 to August 1, on an invitation from Indian Prime Minister Narendra Modi.

Chinh mentioned that for Lien Chieu Port, Vietnam plans to select a single primary infrastructure investor, allowing other investors to collaborate with Vietnamese companies for its operation.

He instructed local government bodies to engage in discussions with the Adani Group right after the meeting to determine the next steps.

Regarding Chu Lai Airport, Chinh stated that it would be beneficial if Adani could collaborate with Vietnamese firms on the investment, given the project’s significant potential.

He noted that the airport is already equipped with two runways and 1,200 hectares of land that are ready for use.

He emphasized its critical role not just for Vietnam but as a key transshipment center for Southeast Asia and Asia.

Chinh requested that the Adani Group engage in discussions with Vietnamese governmental agencies regarding the Vinh Tan 3 project.

Additionally, he directed the Ministry of Planning and Investment to guide the Adani Group on how they could contribute to the development of Long Thanh, which is poised to become Vietnam’s largest airport.

Vietnam anticipates that Adani Group will enhance technology transfer and help local companies improve their skills to integrate into the group’s supply chain and ecosystem.

Chinh also mentioned his consistent support for effective and sustainable business investments within Vietnam.

At 61, Adani has amassed a net worth of $88 billion, making him the second wealthiest individual in India, trailing only Mukesh Ambani, the chairman of the oil and gas conglomerate Reliance Industries.

Adani established the Adani Group in 1988, initially focusing on commodity trading. The company has since evolved to become India’s largest airport operator and also manages Mundra, the country’s biggest port.