Business

Vietnam’s first BOT project juiced up with foreign investors

Aquiring 20 percent stake of FECON Corporation in the Phu Ly Bypass project has made Japanese-based NEXCO and JEXWAY become first foreign enterprises to set foot in a Vietnamese BOT project.
Vietnam’s first BOT project juiced up with foreign investors ảnh 1Nam Cau Gie toll collection area as part of the No 1 national highway BOT project (Photo: FECON)

Hanoi (VNA) – Aquiring 20 percent stake of FECON Corporation in the Phu LyBypass project has made Japanese East Nippon Expressway Company Limited (NEXCO)and Japan Expressway International Co., Ltd (JEXWAY) become first foreignenterprises to set foot in a Vietnamese Build-Operate-Transfer project.

This is part of a strategic cooperation agreement on developing trafficinfrastructure projects in Vietnam signed at the forum on investment promotion inVietnam held in Tokyo within the framework of Prime Minister Nguyen Xuan Phuc’sofficial visit to Japan.

Accordingly, NEXCO and JEXWAY will join hands with FECON to transfer Japanesetechnology and management capacity in transport infrastructure while connectingFECON with other Japanese partners.

NEXCO President and CEO Y. Miyaike affirmed that the strategic cooperationagreement is of significance that marks the beginning of the partnership withpotential companies like FECON and its subsidiary Infrastructure Joint StockCompany (FCI).

NEXCO will provide its 50-year expertise in the maintenance and management ofexpressway for Vietnamese firms, he stressed.

Meanwhile, FECON Chairman Pham Viet Khoa said that NEXCO and JEXWAY’sparticipation in Phu Ly bypass project in northern Ha Nam province will makegreat contributions to the success of the project.-VNA
VNA
#BOT#Build-Operate-Transfer#FECON#East Nippon Expressway#NEXCO#Japan Expressway International#JEXWAY#Nguyen Xuan Phuc#Y. Miyaike#Pham Viet Khoa#Phu Ly bypass project#Ha Nam#Vietnam#Vietnam News Agency#vietnamplus
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