Adani Group Gets Green Light for Major Port Expansion in Vietnam

Billionaire Gautam Adani’s conglomerate, Adani Group, is planning to build a new port in Vietnam to boost its overseas trade and infrastructure, Bloomberg reported on July 13. The company’s port division, Adani Ports and Special Economic Zone Ltd., has received initial approval from the Vietnamese government for this new greenfield project, according to Karan Adani in an interview.

The project is still in the early planning stages, and the total investment is not yet determined. However, the development will include container terminals and multipurpose berths to handle various types of cargo.

On the stock market, Adani Ports and Special Economic Zone shares closed slightly higher at ₹1486.40, while Adani Enterprises shares fell by 0.45% to ₹3063.95 after Friday’s trading session.

Adani Group’s Ports Expansion

Adani Group already owns three international ports: Haifa Port in Israel, Colombo Port in Sri Lanka, and Port of Dar es Salaam in Tanzania. The new Vietnam port will be the fourth in their international portfolio. Additionally, their new domestic Vizhinjam Port in Kerala recently received its first cargo mothership.

The company is accelerating its port expansion to capture a larger share of international maritime trade, currently led by China. Karan Adani stated that they are targeting countries with high manufacturing or population, which leads to higher consumption and export volumes.

Largest port operator

Adani Group is the largest port operator in India, aiming to increase its international operations from 5% to 10% by 2030. They are also exploring opportunities in the Middle East, Southeast Asia, East Africa, Bangladesh, Sri Lanka, Maldives, Vietnam, and Cambodia.

Bloomberg reported that Adani Group plans to double its investment to $2.4 billion in their new mega port in South India to attract the world’s largest container ships.