Adani: Adani Group weighs $3 billion investment in Vietnam


Adani Group is exploring the possibility of investing up to $3 billion in seaport and renewable energy projects in Vietnam, the Vietnamese government said in a statement on Wednesday.
The statement came after the Vietnamese Prime Minister met in Hanoi on the same day Pham Minh Chinh and Karan Adani, CEO of Adani Ports and Special Economic Zone, a unit of edible oil-coal mining conglomerate Adani Group.
“Vietnam stands ready to create more favorable conditions for India’s big companies, including Adani, to invest and do business in the country,” Chinh Karan said at the meeting, the statement said.
Chinh said Vietnam welcomes Adani’s investment in initially Lien Chieu port in downtown Danang, the statement said.
Karan told Chinh Adani that he will soon be working with Vietnamese partners and stakeholders on specific investment projects in the country, the statement said, saying the investment could reach $10 billion in the longer term.

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