By W. G. S. D. Wijesinghe, Jadetimes news
Billionaire Gautam Adani is set to develop a port in Vietnam, as part of his Indian conglomerate’s strategy to build overseas infrastructure and leverage growing trade opportunities. Adani Ports and Special Economic Zone Ltd. has received an “in principle approval from the Vietnamese government” for a greenfield project in Da Nang, according to Karan Adani, the company’s managing director. This project, which will include container terminals and multipurpose berths for various types of cargo, is still in the early planning stages, with the total investment yet to be determined.
Growing International Portfolio
This venture marks the Adani group’s fourth international port asset, following acquisitions in Haifa, Israel; Colombo, Sri Lanka; and the Port of Dar es Salaam in Tanzania. Recently, Adani’s new mega port in southern India welcomed its first mother ship, signaling the company’s intent to accelerate expansion and secure a larger share of the international maritime trade currently dominated by China. “The idea is to make India a maritime hub,” stated Karan Adani, emphasizing their focus on countries with high manufacturing outputs or significant populations, which drive high consumption and export volumes.
Future Growth and Regional Focus
Adani Ports, India’s largest port operator, currently derives about 5% of its total volume from international operations and aims to increase this to 10% by 2030, according to Karan Adani. The company is exploring opportunities in the Middle East, Southeast Asia, East Africa, Bangladesh, Sri Lanka, Maldives, Vietnam, and Cambodia, targeting regions where trade is increasingly connected to India. This strategic expansion underscores Adani Ports ambition to enhance its global footprint and contribute to making India a key player in the global maritime industry.
