HÀ NỘI — The industry-real estate-finance conglomerate T&T Group and France’s industrial Bouygues Group on Tuesday signed a co-operation agreement to invest in urban railway project No 3 and upgrade Hàng Đẫy Stadium in Hà Nội.

Accordingly, T&T Group plans to invest in and develop the project of urban railway No 3 (doubble-track rail) in the form of Public Private Partnerships (PPP), connecting Hà Nội centre with Sơn Tây Township for a total length of 31.1km. The total value of investment in this project is estimated at 1.4 billion euros (US$1.74 billion).

In addition, the plan for the Hàng Đẫy Stadium renovation has an estimated investment value of 250 million euros.

Bouygues Construction is one of the world’s leading companies in the field of design and construction of international infrastructure projects. The Bouygues Group is committed to working with T&T Group in the design, construction, commissioning, maintenance, support and financing of the two projects.

The agreement, which was signed during a recent official visit of Việt Nam’s Party General Secretary Nguyễn Phú Trọng to France to mark the 45th anniversary of diplomatic relations between the two countries, will help open up investment opportunities in Việt Nam for the leading economic groups in the world and promote domestic and foreign cooperation for key national economic projects.

Founded in 1993, T&T Group JSC operates in the real estate, finance, industry, sports, and import-export trading market segments. Its real estate projects include residential units, trade centres, office buildings, resorts, marine eco-tourism areas, and urban areas and industrial zones. The company currently has total assets of VNĐ20 trillion ($877 million) and charter capital of VNĐ5 trillion. — VNS