Adani Group planning investment in two airports in Vietnam: Report

The Group plans to expand its collaboration with Vietnamese partners in the aviation and logistics sectors through the development of Long Thanh and Chu Lai airports

The Adani Group is considering investing in two airports in Vietnam, as announced by the Vietnamese government on Wednesday, according to a Reuters report. This news follows the company's recent disclosure of its authorisation to build a seaport in the country.

The government’s announcement was made after a meeting in Delhi on the same day between Vietnamese Prime Minister Pham Minh Chinh and Gautam Adani, the head of the Adani Group, during the former's official visit to India, the report said.

The statement mentioned that Adani intends to expand its collaboration with Vietnamese partners in the aviation and logistics sectors through the development of Long Thanh and Chu Lai airports, which are located in the southern and central regions, respectively.

 

However, the statement did not specify the investment amount or timeline.

Last year, Karan Adani, Gautam Adani's eldest son, announced plans to invest up to $3 billion in seaport and renewable energy projects in Vietnam, with the potential for the investment to grow to $10 billion over the long term.

Adani proposes to invest in Kenya airport

Meanwhile, the Kenya Airports Authority (KAA) recently said that it had received an investment proposal from Adani Group for the upgradation of Nairobi's Jomo Kenyatta International Airport (JKIA) under a public-private partnership. The proposal was submitted by Adani Airport Holdings Ltd (AAHL).

AAHL currently manages seven airports in India and is also developing the Navi Mumbai airport. JKIA’s Managing Director and Chief Executive Officer, Henry Ogoye, noted that the proposal followed the Kenyan government's approval of a medium-term investment plan for upgrading various facilities at the Nairobi airport.

Adani to launch first-ever public debt issue

In a related development, Adani Enterprises, the flagship company of the Adani Group, is reportedly planning to launch its first public bond issue in the coming weeks to raise up to Rs 600 crore ($71.7 million).

Last year, Adani Enterprises opted not to move forward with its initial retail bond offering of up to Rs 1,000 crore, following accusations of financial misconduct by US-based short-seller Hindenburg Research. Despite the Adani Group's denial of these allegations, the controversy caused a significant decline in the value of its companies' shares, which rebounded later in 2023.

Recently, the company notified stock exchanges that it had submitted a draft prospectus to the market regulator, outlining plans for a public bond issue with a base size of Rs 300 crore and a greenshoe option for an additional Rs 300 crore.