India’s major infrastructure conglomerate, Adani Group, is set to invest in two airports in Vietnam, the Vietnamese government said on Wednesday (31 July).
The announcement follows a meeting in Delhi between Vietnamese Prime Minister Pham Minh Chinh and Gautam Adani during the former’s official visit to India.
“Adani is planning to strengthen cooperation with Vietnamese partners in the fields of aviation and logistics, via the construction of Long Thanh Airport and Chu Lai Airport,” the statement said, referring to two major airports in the south and central regions.
Adani will collaborate with the Vietnamese conglomerate SOVICO to build Chu Lai Airport in the short term and will study investment opportunities for the second phase of Long Thanh Airport, the statement added.
Currently, work is underway for the first phase of Long Thanh International Airport, located about 40 km from Ho Chi Minh City. This project is being executed in three phases.
The new airport is being built to alleviate pressure on Tan Son Nhat International Airport in Ho Chi Minh City Airport and Noi Bai International Airport in Hanoi, both of which are nearing capacity.
It is noteworthy that Karan Adani, Managing Director of Adani Ports, mentioned in an interview with Bloomberg News last year that the company plans to invest up to $3 billion in seaport and renewable energy projects in Vietnam. He also stated that the total investment could reach $10 billion over the long term.
As part of this investment, Adani aims to engage in energy projects in Binh Thuan province, specifically the Vinh Tan 3 thermal power plant, with an initial investment of $2.8 billion, the release said.