French President shared that "T&T and Bouygues Group have proven the potential for economic cooperation between the two countries"
During the official visit of General Secretary Nguyen Phu Trong to the French Republic on March 27th, 2018 at the Elysees Palace, General Secretary Nguyen Phu Trong and President of the Republic of France Emmanuel Macron witnessed the signing ceremony of the Memorandum of Understanding between T&T Group and France's Bouygues Group on investment cooperation in the Hanoi's urban railway project No. 3.
On the same day, at the Vietnam-France Business Forum, in the presence of Secretary-General Nguyen Phu Trong, French Ambassador in Vietnam and Chairman of French MEDEF, T&T and Bouygues Group signed the Memorandum of Understanding on Investment Cooperation to develop a project aiming at upgrading and expanding Hang Day Stadium, Hanoi.
Accordingly, T&T Group plans to invest and develop the Project of Urban Railway No. 3 (double-track railway) in the form of PPP, Construction Contract - Build-Transfer Contract (BT) which connects Ha Noi City Center with the Son Tay provincial town (Nhon - Troi - Phung - Belt 4 - Son Tay) with a total length of 31.1 km). The total value of investments in the Urban Railway No. 3 Project is estimated at EUR 1,4 billion.
At the signing ceremony, French President Emmanuel Macron highly appreciated the cooperation between the two leading corporations of the two countries. The French President said that this project is a symbol of the increasing durable cooperation spirit of both countries on the occasion of the 45th anniversary of the diplomatic relations establishment between Vietnam and France. This is also the evidence for the potential cooperation of the two countries in the economic field.
T&T Group designs plan to invest in the upgradation, expansion, operation and maintenance of Hang Day Stadium (Hanoi). Total investment value of the project to upgrade and expand the Stadium is estimated at EUR 250 million.
Bouygues Construction is one of the world's leading companies in the field of designing and constructing international infrastructure projects. Bouygues Group is committed to working with T & T Group in the design, construction, operation, maintenance, financial arrangement support for these two projects.
This is one of the significant activities during the official visit of General Secretary Nguyen Phu Trong to the French Republic. It marks the 45th anniversary of diplomatic relations between the two countries as well as opens up investment opportunities of the world's leading economic groups into Vietnam; thereby, promoting domestic and overseas cooperation for Vietnam's key economic projects.