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 Hang Day Stadium in Ha Noi.

Accordingly, T&T Group plans to invest in and develop the project of urban railway No 3 (dual rail) in the form of Public Private Partnerships (PPP), connecting Ha Noi centre with Son Tay 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 Hang Day 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 Viet Nam’s Party General Secretary Nguyen Phu Trong to France to mark the 45th anniversary of diplomatic relations between the two countries, will help open up investment opportunities in Viet 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 VND20 trillion ($877 million) and charter capital of VND5 trillion. — VNS