Viet Nam’s BRG Group Joint Stock Company and Japan’s Sumitomo Corporation Asia & Oceania Group will partner to execute a plan to implement the Nhat Tan-Noi Bai project.
|Viet Nam’s BRG Group Joint Stock Company and Japan’s Sumitomo Corporation Asia & Oceania Group will partner to execute a plan to implement investment of the Nhat Tan-Noi Bai project. - Photo baodauthau.vn
The partnership is marked by an agreement of co-operation for the development of the Nhat Tan-Noi Bai project, which was signed last week between the two groups, aiming to build a smart city north of the Red River.
The co-operation, together with financial support from the Japanese government, is targeted at studying the feasibility of using official development assistance from Japan to develop key urban infrastructure, such as roads, railways, water supply and drainage system, as well as waste water treatment, power supply, telecommunication services and broadband.
The two sides have agreed to jointly plan functional zones, in particular co-operate with Japan’s research group to optimise the current master plan of the project. The plan has been developed by BRG Group and already approved by the People’s Committee of Ha Noi.
BRG Group was assigned to be an investor to plan the Nhat Tan-Noi Bai route (Vo Nguyen Giap Street) in 2011.
The group has co-operated with the Construction Planning Institute in Ha Noi and the Viet Nam Urban Planning and Development Association to set up a council to select ideas.
BRG has worked, exchanged and revised ideas together with Viet Nam’s P&T Consultants during the project planning process. Total construction area is 2,080ha along both sides of the Nhat Tan-Noi Bai road, including four main sections with a length of some 11.7km.
The detailed planning of three sections (section 1, section 2 and section 3), with the total length of some 11.1km, was approved in early 2016.
The Nhat Tan-Noi Bai urban project is expected to make an important contribution to the economic and social development of Ha Noi, besides strengthening the close relationship between Viet Nam and Japan.
Earlier, in December, BRG Group and Sumitomo Corporation signed a memorandum of understanding as strategic partners to collaborate in real estate and retail.