Adani Group has unveiled plans to build a new port in Vietnam, marking its fourth international port. This move aligns with the company’s strategy to broaden its infrastructure footprint globally and bolster trade opportunities. Adani Ports and Special Economic Zone Ltd. (APSEZ) has received “in-principle approval from the Vietnamese government” for this greenfield project, stated Karan Adani, CEO of APSEZ.
The new port project is in the early planning stages, with investment specifics yet to be determined. The facility will include container terminals and multipurpose berths, significantly boosting Vietnam’s maritime trade capacity. This expansion follows the acquisition of the Haifa Port in Israel, with existing international ports in Colombo, Sri Lanka, and Dar es Salaam, Tanzania.
“We are targeting countries with high manufacturing or large populations, leading to high consumption. Our focus is on export volumes in these regions,” said Karan Adani, according to Bloomberg. The ultimate goal is to position India as a central maritime hub. Adani Group aims to double its international operations from 5% to 10% by 2030.
Adani Group plans to invest $3 billion to enhance its global port capacity. Beyond Vietnam, the company is exploring opportunities in the Middle East, Southeast Asia, East Africa, Bangladesh, Sri Lanka, Maldives, and Cambodia. These regions are pivotal for strengthening trade links with India. APSEZ, India’s largest private port operator, owns 15 ports and terminals, handling a record domestic cargo volume of 420 MMTPA in FY24.
Source: Swarajya