Gautam Adani is eyeing a major presence in Vietnam’s infrastructure sector.
The Adani group is reportedly planning to invest in two airports in Vietnam even as it is set to pump $2 billion into developing the Lien Chieu port project in the central coastal city of Da Nang.
According to the Vietnam government’s website, Adani is also looking at energy projects in Binh Thuan province with an initial investment capital of $2.8 billion.
Vietnam Prime Minister Pham Minh Chinh has met Adani in New Delhi. A Reuters report said the Adani group is planning to invest in two airports in the country.
“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,” a Vietnam government official said, according to Reuters.
Adani Power
Meanwhile, Adani Power reported over 55 per cent dip in its consolidated net profit to ₹3,913 crore in the first quarter ended June 30, 2024 on account of higher expenses.
The consolidated net profit of the company stood at ₹8,759 crore in the same quarter of the previous year.
During the period, its total income declined to ₹15,474 crore from ₹18,109 crore in the year ago period. Total expenses increased ₹10,568.44 crore from ₹9,309.39 crore in the same period a year ago.