The 211 million USD project will start next year in Ho Chi Minh City with the involvement of Mitsui Group, Mitsubishi UFJ Financial Group (MUFG), Shimizu construction company and Maeda industrial construction company.

They will build an 8.1km concrete dyke and a system of sullage pits in a residential area frequently immersed in flooding water, nearly 10km from the downtown. The dyke will surround a 61ha area which is expected to be completed by 2020.

The reclaimed land will be used for building a residential quarter with 24,000 apartments which are slated for completion by 2022.

In the near future, Ho Chi Minh City will receive a low-interest loan from Japan for resettlement compensation and infrastructure building.

Similar projects are underway in Myanmar and Cambodia.-VNA