Adani Group to pour $10 billion in Vietnam including Lien Chieu Port
17:12 | 29/06/2022 Print Article
Indian investor Adani Group will cooperate with Anh Phat Investment Construction and Trading JSC to develop Lien Chieu Port among the group's proposed investment projects in Vietnam with the expected value of $10 billion.
In the framework of the seminar on spurring Danang’s development as a place to come and live, which was organised on June 27, the leader of Danang People’s Committee approved the joint venture to study the investment feasibility of Lien Chieu Port.
The infrastructure of the port will combine a harbour area, a container yard, a warehouse complex, piers, waterways, and a transport system, among others.
This project is expected to handle ships with a capacity of 100,000DWT and container ships of up to 8,000TEU. The total cargo going through these harbours would be 3.5-5 million tonnes per year.
The development of Lien Chieu Port is one of two key projects that aim to turn the central city into the main logistics centre in ASEAN and the East-West Economic Corridor that links Laos, Myanmar, Thailand, and Vietnam.
Adani Group is a diversified organisation in India with a market cap of over $175.21 billion (as of June 29) comprising seven publicly traded companies. The group acquired $21 trillion in profit in 2021, and that figure is expected to increase to $30 billion this year.