Sumitomo, BRG to Develop Smart City in Hanoi
Hanoi, Oct. 6 (Jiji Press)--Japanese trader Sumitomo Corp. <8053> and Vietnamese conglomerate BRG Group on Sunday held a ceremony to mark their 4.2-billion-dollar project to develop a smart city in Hanoi.
The two sides will set up a fifty-fifty joint venture to develop the smart city in the Dong Anh district, which lies between downtown Hanoi and Noi Bai International Airport.
"We'll strive across our company so that we can contribute to the sustainable development of Hanoi," Sumitomo President Masayuki Hyodo said at the ceremony.
Vietnamese Construction Minister Pham Hong Ha expressed hope that the project will be realized early. The ceremony was also attended by Prime Minister Nguyen Xuan Phuc.
Sumitomo and the BRG Group plan to start construction work next year. The five-phase project features efficient management of electricity through information technology and enhanced security using face recognition systems.
[Copyright The Jiji Press, Ltd.]