Adani Group has announced plans to construct a new port in Vietnam as part of its strategic efforts to expand its infrastructure footprint overseas and enhance trade opportunities.
Adani Ports and Special Economic Zone Ltd. (APSEZ), the group’s port company, has secured an “in-principle approval from the Vietnamese government” for the greenfield project, according to Karan Adani, CEO of APSEZ.
The proposed port project is in the preliminary stages of planning, with investment details yet to be finalised. The facility will feature container terminals and multipurpose berths to accommodate various types of cargo, enhancing Vietnam’s maritime trade capacity.
The Vietnamese port will be Adani Group’s fourth international port, following the acquisition of the Haifa Port in Israel. Adani Group’s existing international ports include Colombo Port in Sri Lanka and the Port of Dar es Salaam in Tanzania.
“We are targeting countries that are high on manufacturing or high on population, which will lead to high consumption. We are focusing on export volumes in these countries,” said Karan Adani, CEO of APSEZ, reports Bloomberg. He added that the ultimate goal is to establish India as a central maritime hub.
Adani Group’s ambition extends to increasing its international operations significantly. Currently, international operations constitute 5 per cent of the company’s activities, but there are plans to double this figure to 10 per cent by 2030.
The Adani Group has earmarked a $3 billion investment to enhance its global port capacity.
Beyond Vietnam, Adani Group is also exploring further opportunities in regions such as the Middle East, Southeast Asia, East Africa, Bangladesh, Sri Lanka, Maldives, and Cambodia. These areas are seen as key to enhancing trade connections with India.
APSEZ, India’s largest private ports operator, currently owns 15 ports and terminals, with seven on the West Coast and eight on the East Coast. The company handled a record domestic cargo volume of 420 MMTPA in FY24, a 24 per cent increase from the previous year. Adani’s cargo volumes represent approximately 25 per cent of India’s total cargo volumes, as per data from the Ministry of Ports, Shipping and Waterways and Adani’s regulatory filings.