International Desk
The Indian multinational conglomerate Adani Group has disclosed its plan to build a port in Vietnam to expand its overseas trade opportunities, reported the Maritime News.
On 15 July, citing Bloomberg the report stated, the managing director of Adani Ports and Special Economic Zone (APSZ) told that they have received the Vietnamese government’s in-principle approval to initiate greenfield project development in Da Nang, Vietnam.
This project development will include container terminals and all-purpose berths to manage various cargo at the port. The project is in its planning stage, and the details of the total investment are yet to be decided.
The report also stated that the Adani Ports and Special Economic Zone is the largest port operator, operating 13 domestic ports in India. Adani Group has three international port infrastructures: HAIFA Port in Israel, COLOMBO Port in Sri Lanka, and the Port of DAR-ES-SALAAM in Tanzania. Vietnam marks the fourth international port for the Adani Port Group.
It was further reported that Adani group plans to increase its investment to $2.4 billion for its new large port in South India.