Deo Ca and Sinohydro propose to invest in HCMC's metro line 2

Deo Ca Group and Sinohydro Corporation, an arm of Power China Group, one of the world's major contractors of hydropower, renewable and new energy, signed a memorandum of understanding on the cooperative investment proposal in phase 3 of HCMC'S Metro Line 2.

The two sides will focus their resources on supporting each other based on the principle of mutual benefit, mutual development and compliance with the provisions of Vietnamese law, sharing benefits, and synergizing strength to develop future projects.

Deo Ca Group has received invitations to cooperate from many large enterprises such as the Pacific Group from China, NEXCO Group from Japan, Daewoo Group from Korea and all have made certain progress, said Deo Ca Vice Chairman Nguyen Huu Hung.

“We initially work together to study and propose phase 3 of HCMC'S Metro Line 2 project in the form of PPP. I believe that in the next period, we will promote investment cooperation, maximize the advantages and strengths of the parties in the project of elevated railways, transport infrastructure, and energy investment,” he added.

Sinohydro is one of the biggest contractors in the world, present in 74 countries with more than 500 projects. Sinohydro has been involved in many architectural projects, power investment, real estate, research, and development, designing and manufacturing construction equipment.

In addition to providing investment, project financing, consulting and construction services, Sinohydro Company is also engaged in manufacturing and installing electrical and mechanical plants, irrigation, highways, railways, ports and seaports, airports, city public utilities, and construction industries.

In the framework of the signing ceremony, chief Representative of Power China Group in Vietnam Mr. Du Hai Yang highly appreciated Deo Ca's working method. By virtue of a lot of feasible potentials, he wished to cooperate with Deo Ca Group in other areas such as elevated railway projects, transport infrastructure, and energy investment (wind power, waste-to-energy.

Right after the signing ceremony, leaders of the two parties and departments held a meeting to agree on the plan of implementing investment and research on phase 3 of HCMC'S Metro Line 2 and detail the implementation roadmap.

Source: Dau Tu