Indian conglomerate Adani eyes investment in central Vietnam airport
Indian conglomerate Adani and Vietnam’s low-cost airline Vietjet Air are collaborating on a pre-feasibility study for potential investment in Chu Lai airport in the central province of Quang Nam.
The move came following Vietnamese Prime Minister Pham Minh Chinh's trip to India from July 30-August 1, Chairman of the provincial People’s Committee Le Van Dung said at a meeting on Wednesday.
If the study yields positive results, Adani will proceed with next steps, after which the Ministry of Transport will consult with the government regarding the project, Dung added.
Chu Lai airport in Quang Nam province, central Vietnam. Photo courtesy of Tien Phong (Vanguard) newspaper.
Chu Lai airport, located in Nui Thanh district, is one of the three largest airports by area in Vietnam, spanning over 2,000 hectares.
It has the potential to become a major international airport and a key freight transit hub, the official stressed, adding that the prime minister already gave in-principle approval to the province to invest in the airport, with finance coming from various sources, including the private sector.
Chu Lai airport, which currently has an annual capacity of one million passengers, welcomed its first commercial flight in 2005.
According to the provincial planning in 2021-2030, with a vision to 2050, the airport is set to be upgraded to a 4F-class facility, positioning it as a hub for international air services.
The airport aims to handle 10 million passengers annually by 2030 and 50 million by 2050, with the goal of becoming the largest airport by size in Southeast Asia.
During his talks with PM Chinh in on July 31, Gautam Adani, chairman of Adani group, expressed his interest in several mega projects in central Vietnam, including the $2-billion Lien Chieu seaport in Danang city and $2.8-billion Vinh Tan 3 thermal power plant in Binh Thuan province.
Adani also said he was looking to cooperate with Vietnamese partners in logistics and aviation projects like phase 2 of the Long Thanh international airport in Dong Nai province and Chu Lai airport in Quang Nam province.
- Related News
- Read More
Malaysia eyes to become global medtech hub
Malaysia is on track to become a global medical technology (medtech) hub with its strong policies in attracting and executing the right investments, says Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz.
Southeast Asia - Thu, December 12, 2024 | 10:14 pm GMT+7
Malaysia launches national AI office for shaping policy
Malaysia on Thursday launched a national artificial intelligence (AI) office aimed at shaping policies and addressing regulatory issues, as it looks to establish itself as a regional hub for AI development.
Southeast Asia - Thu, December 12, 2024 | 10:10 pm GMT+7
Amended Electricity Law to benefit renewable energy, energy infrastructure firms: broker
The amended Electricity Law, effective from February 1, 2025, is expected to benefit businesses involved in the development of renewable energy, energy infrastructure, and power generation.
Companies - Thu, December 12, 2024 | 10:05 pm GMT+7
Vietnam's central bank orders mandatory transfer plans for GPBank, DongA Bank
The government has requested the State Bank of Vietnam (SBV) to urgently submit its plan on mandatory transfers of the remaining two banks under special control, GPBank and DongA Bank, no later than December 20.
Banking - Thu, December 12, 2024 | 9:46 pm GMT+7
Northern Vietnam province attracts $90 mln investments from Singapore, US
Hai Duong province, a manufacturing center in northern Vietnam, has attracted two foreign-invested projects totaling $90 million.
Industries - Thu, December 12, 2024 | 9:15 pm GMT+7
Apple supplier Quanta to double capacity of $120 mln Vietnam plant
Taiwan-based Quanta Computer will double the capacity of its factory in Vietnam’s northern province of Nam Dinh, with new products.
Industries - Thu, December 12, 2024 | 4:30 pm GMT+7
Singapore firm to spend $29 mln on land lease for $590 mln project in Vietnam
Singapore-based Mega Textile will spend $28.7 million to acquire land use rights for a 51-hectare land lot in VSIP Nghe An Industrial Park, central Vietnam to make a $590 million investment.
Industrial real estate - Thu, December 12, 2024 | 2:01 pm GMT+7
Vietnam’s Investment Support Fund to mainly help foreign firms
The Vietnamese government is tasked with issuing a decree on the Investment Support Fund to help multinational and foreign companies, given the Global Minimum Tax (GMT) context.
Economy - Thu, December 12, 2024 | 12:04 pm GMT+7
Vietnam's Ministry of Finance, Ministry of Planning and Investment to become one
The Ministry of Finance and the Ministry of Planning and Investment will merge with each other to form a new ministry with 34 agencies, down the current total of 56.
Economy - Thu, December 12, 2024 | 9:52 am GMT+7
Vietnam's logistics heavyweight Gemadept raises $118 mln for asset purchases, debt repayment
Gemadept Corporation, a leading port and logistics company in Vietnam, has successfully sold 102.7 million shares to existing shareholders at the price of VND29,000 ($1.14) apiece, raising VND2,978 billion ($117.3 million).
Companies - Thu, December 12, 2024 | 8:15 am GMT+7
Vietnam's Mekong Delta offers significant potential for biomass power generation: Erex exec
The Mekong Delta region's abundance of straw and rice husks provides an affordable and sustainable resource for biomass power generation, says Tomoki Kakuta, CEO of Erex Group.
Energy - Wed, December 11, 2024 | 11:23 pm GMT+7
Indonesia to reduce corn, salt, sugar imports in 2025
Indonesia will slash corn, salt, sugar import quotas for 2025 as part of its efforts to make domestic industries use more domestic products.
Southeast Asia - Wed, December 11, 2024 | 11:02 pm GMT+7
Vietnam a promising market for supply chain diversification, risk mitigation: German association AHK
German businesses see significant growth potential in Vietnam's promising market, especially when the country’s focus on renewable energy and sustainability aligns with Germany’s strengths in green technologies.
Economy - Wed, December 11, 2024 | 5:57 pm GMT+7
Philippines expected to import record rice volume
Despite record production and ample stocks, the Philippines is expected to import a record volume of rice in the 2024-2025 crop year, according to a report from the Foreign Agricultural Service (FAS) of the US Department of Agriculture.
Southeast Asia - Wed, December 11, 2024 | 4:23 pm GMT+7
Vietnam's auto sales up 17% to 308,544 in Jan-Nov
Members of the Vietnam Automobile Manufacturers' Association (VAMA), not including VinFast and Hyundai, sold 308,544 units in the first 11 months of 2024, up 17% year-on-year.
Companies - Wed, December 11, 2024 | 3:46 pm GMT+7
Indonesia's economic growth projected below 5.2%
Indonesia’s Finance Minister Sri Mulyani Indrawati has forecast a growth rate of 5.01% for the country’s economy in the fourth quarter of 2024.
Southeast Asia - Wed, December 11, 2024 | 3:37 pm GMT+7
