India’s Adani Group has revealed a seaport investment plan in Vietnam with estimated capital of around $2 billion.

It initially wants to invest in technical infrastructure at Lien Chieu Port in central Da Nang city for the handling of general, bulk, liquid/gaseous cargo and containers, according to the CEO of Adani Ports and Special Economic Zone Limited, Mr. Karan Adani. 

The group will also seek cooperation and investment opportunities at other seaports in Vietnam in the future, he told a meeting with Minister of Transport Nguyen Van Thang in Hanoi on May 24.

He said the group hopes to receive support from the Ministry of Transport to translate the project into reality as quickly as possible.

Minister Thang said the ministry is looking for port investors with financial capacity and experience, and is ready to remove any difficulties and obstacles and create favorable conditions for investors and businesses.

He suggested that Adani invest in port infrastructure and logistics at Lien Chieu and other ports.

Two-way trade between Vietnam and India reached over $15 billion last year.