Japanese gov't to help domestic firms win projects in Vietnam

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VietStock FI English - 49 month(s) ago 8 readings

The Japanese Government will help private companies bid for contracts, worth roughly 50 billion JPY in total, to build an expressway and sewage treatment plant in Vietnam, a local report said.

The companies will be able to receive up to 150 million JPY from the government to cover the costs of research necessary to formulate detailed plans, the Nikkei economic daily reported, adding that more financial support will be offered once the firms sign a contract.

The financial support will take the form of yen loans and others under the official development assistance scheme, and loans and investment from the Japan Bank for International Cooperation.

According to the Nikkei, the expressway project will involve widening a 30-km road between central Hanoi and its suburbs from four lanes to six, as well as operating the highway, which after the construction will be made a tollway. Itochu Corp., Katahira & Engineers International and Central Nippon Expressway Co. are looking to undertake the project.

The sewage plant, to be built in Hanoi , will include facilities to turn organic residue into compost and biomass fuel for generating power. Orix Corp. and Nippon Koei Co. are considering the project. If the firms receive the contract, the sewage plant will be the first built in Vietnam by a private business.

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