VIMC, Adani cooperate on seaport development

At the meeting, Karan Adani, CEO of APSEZ and Nguyen Canh Tinh, CEO of VIMC discussed the cooperation possibilities between the two sides.

Tinh said that VIMC's fleet in India had received cooperation and support from Adani. As a government-run enterprise, VIMC will implement a strategy of strong breakthroughs in maritime service infrastructure, development of seaports, especially deep-water seaports in key economic regions of Vietnam.

“VIMC has always considered Indian enterprises like Adani Group as an important strategic partner in developing its shipping fleet, container fleet in inner Asia and the world, including the Indian market to develop a connection chain with key economic regions of Vietnam,” Tinh said.

Adani said that VIMC and Adani were both leading enterprises in the maritime sector in each country, making important contributions to the countries’ economic development, and having similarities in providing world-class maritime services.

He believes that the combination of experience and expertise of VIMC and Adani will contribute to improving the supply chain between Vietnam and India, helping to boost trade between the two countries.

“The signing of cooperation today will be an initial milestone between the two parties, creating the premise for more specific steps in the fields of shipping, logistics, and maritime services,” Adani said.

In the same week, Adani also had meetings with the Ministry of Transport, Vietnam Maritime Corporation and Saigon Port JSC on business opportunities.

A downturn in exports may prompt the private sector to reevaluate its investment plans in the nation’s seaports, which are estimated to require over $13 billion by 2030.

Soc Trang People’s Committee is proposing developing Tran De Seaport under a Public-Private Partnership (PPP) and, to promote the venture as an investment opportunity, is seeking the Ministry of Transport’s approval to use local budgetary funds to draft a feasibility report for its construction.

The Indian-based conglomerate Adani Group has proposed developing a $2 billion seaport in Vietnam, while also investing in wind and solar power plants.

The central city of Da Nang targets to become an attractive logistics centre of the central key economic region by 2030, and the key gateway of the East-West Economic Corridor and an important link of the Asia-Pacific transport corridor by 2050.