Japan to Support Private Firms for Vietnamese Road Projects

The Japanese Government has unveiled plans to help private companies compete for contracts worth about JPY50bn ($613m), to build an expressway in Vietnam.

The firms would receive about JPY150m ($1.8m) funds from the government through the Japan Bank for International Cooperation, which would also go towards the research activities to develop detailed plans. More funds will be provided following the awarding of the contracts.

The expressway project will involve widening a 30km 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 into a tollway.

Itochu Corporation, Katahira & Engineers International and Central Nippon Expressway Company have expressed interest in the project, according to eco-business.com.