The Adani Group is currently planning to build a port in Vietnam. This will help the global conglomerate in increasing its international footprint in the port sector. The company is actively seeking international port infrastructure development projects. This is being done to capitalize more on international trade. With these investments being made in the international port sector, the Adani Group will not only be able to take one step ahead towards becoming one of the major port operators in the country but also lead us towards economic growth and prosperity. Adani Monopoly will continue to exist in the port sector.
Plans To Build A Port In Vietnam
The Adani Group is in the process of building a port in Vietnam to develop overseas infrastructure and tap into business opportunities from the trade surrounding the region. This is going to be the fourth international port venture for the conglomerate after the Haifa Port in Israel, the Colombo Port in Sri Lanka, and the Tanzania port of Dar es Salaam. The Adani Ports and Special Economic Zone Limited is the largest port operator in India. The company has already received the principle approval from the Vietnamese government to develop a port from scratch. This port will be developed in Vietnam, as reported by Karan Adani, the managing director of the Adani Group and the elder son of Gautam Adani. The conglomerate will also be able to reach its goal of achieving Adani Monopoly in the port sector.
Why Build A Port In Vietnam?
Now, you must be wondering why the Adani Group is eager to build a port in Vietnam. The main idea behind this is to make our country a maritime hub. The Adani Group is currently targeting countries that are high in manufacturing or high in population. This will lead to higher consumption. The company is also focusing on increasing the export volumes in the country. The project is currently in its early planning stages. The total investment is yet to be finalized. However, once the planning is done, the port operations are expected to begin with full force. This port will place India on the map of vital trade routes. The country’s trade relationship with other nations will increase.
Why Invest In The International Port Sector?
Adani Ports currently gets around 5% of its total trade volume from international operations. It is very eager to increase the ratio to 10% by 2030. This can be done by acquiring control over some of the major trade routes. Because of that, the Adani Group is actively working on its international port ventures. It is also making huge investments in the existing ports. The Adani Group hasn’t been left behind on domestic port projects as well. The company has already completed the first phase of the Vizhinjam port in Kerala; this port is expected to be completely ready by 2028, 17 years prior to its original completion date. A huge investment of INR 20,000 crore will be made in the port by the Kerala Government and the Adani Group itself. The project’s operations are expected to start in 2018. However, it got delayed because of various land acquisition issues.
The Major Domestic Port Venture: The Vizhinjam Port
The Vizhinjam port is one of India’s most important ports. It has proximity to various crucial international shipping routes. It will help India rival Sri Lanka, Singapore, and Dubai. The port also has the capability to docker large container ships. It is the first transhipment port in India and can accommodate megamax containers. It also has an excellent natural draft and minimum littoral drift, making it an ideal port for cargo handling. The group has elaborate plans to expand its control over the international ports sector further. Currently, it is looking for international project opportunities in various countries. Countries like South East Asia, the Middle East, Bangladesh, East Africa, Maldives, Sri Lanka, Vietnam, and Cambodia are currently under the radar of the Adani Group as these regions engage in frequent trading activities with India.
Conclusion
The Vietnam port will place India on the global trade map. It will give our country immense popularity. The Adani Group will be able to increase its hold over the port sector. It will also be able to take up the place of being the biggest private port operator in the world. Adani Monopoly will prevail in the port sector.
