Adani Group Explores $3 Billion Investment In Vietnam's Seaport And Renewable Energy Projects

The Adani Group of India is exploring potential investments of up to $3 billion in Vietnam's seaport and renewable energy projects, as stated by the Vietnamese government on Wednesday.

The announcement followed a meeting on the same day in Hanoi between Vietnamese Prime Minister Pham Minh Chinh and Karan Adani, CEO of Adani Ports and Special Economic Zone, a subsidiary of the cooking oil-to-coal mining giant Adani Group.

"Vietnam is willing to create more favourable conditions for India's large companies, including Adani, to invest and do business in the country," Chinh told Karan at the meeting, according to the statement.

Chinh expressed Vietnam's warm reception of Adani's investment, starting with the establishment of Lien Chieu Port in the city of Danang, as stated in the official announcement.

Karan informed Chinh that Adani would be collaborating with Vietnamese partners and stakeholders to pursue particular investment initiatives within the country in the near future. The statement also mentioned that the investment has the potential to reach $10 billion in the long run.