Representative of Adani Group – Group of Asia’s richest billionaire – committed to invest 10 billion USD in Vietnam. The capital would come from the group’s “idle” $100 billion that it aims to invest overseas.
Investment plan in Da Nang and Vietnam of Adani Group
In his speech at the Danang Investment Forum, Mr. Sandeep Mehta – chairman of Adani Ports and Special Economic Zone Limited (APSEZ) under Adani Group, said that the group has a budget of 100 billion USD for foreign investment projects and is committed to invest 10 billion dollars in Vietnam.
Photo: Pham Sanh Chau, Vietnam’s ambassador to India
“The beautiful city of Da Nang will be the starting point of Adani’s journey in Vietnam. We would like to affirm our commitment to work closely with Da Nang City and the Government of Vietnam, support and invest in the development of Lien Chieu port and the entire logistics area and industrial park in Da Nang, turning this area into the economic gateway of Central Vietnam.”, Mr. Sandeep Mehta added.
On his personal Facebook page, Ambassador Pham Sanh Chau – Vietnam’s ambassador to India, said: “This is a huge number compared to the $950 million that India has invested in Vietnam since 1988. It also reflects the tireless efforts of the Vietnamese Embassy in India”.
Ambassador Pham Sanh Chau presented the artwork of Ganisha Elephant God made of bamboo toothpicks to billionaire Adani during the meeting.
The Ambassador shared, during a meeting at the billionaire’s home on June 24, 2022, Mr. Adani added that because of the Embassy’s efforts, the group will invest more heavily in Vietnam, not only in the fields of seaports, airports, but also the thermal power plants. Gautam Adani assessed that Vietnam is an important partner for Adani’s development abroad in the future, saying that he is looking for infrastructure and port projects as well as green energy initiatives.
Adani Group has previously invested in two renewable energy projects in Vietnam in 2021, including a wind power project with a capacity of 27.3 MW in Phuoc Minh Commune, Thuan Nam District, Ninh Thuan Province, and a 50MW solar power project also in Ninh Thuan Province.
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Portrait of billionaire Gautam Adani
Gautam Adani was born in 1962 in India. In 1988, he founded a company called Adani Enterprises. After more than 3 decades of development, the group has headquarters and subsidiaries in more than 70 countries and territories around the world with an estimated annual revenue of over 15 billion USD. Currently, Adani Group is doing business in such fields as: electricity generation and transmission, oil, real estate, coal; businesses in renewable energy, airports, data centers and defense contracts.
Forbes Real-time World Billionaires Ranking (as of June 26, 2022)
According to Forbes, as of June 26, 2022, billionaire Adani’s total assets are worth about $98.1 billion, ranking sixth in the global billionaires list. In particular, in the two years 2020 to 2022, his fortune increased rapidly from only 8.9 billion USD to more than 90 billion USD.
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