T&T Group and France’s Bouygues Group on Tuesday clinched a memorandum of understanding (MOU) on cooperation in an urban railway project in Hanoi on the occasion of a France visit by Party General Secretary Nguyen Phu Trong.

Party General Secretary Nguyen Phu Trong (L, back row) and French President Emmanuel Macron (R, back row) witness the signing of a memorandum of understanding between Vietnam’s T&T Group and France’s Bouygues Group

T&T Group will develop metro line No. 3 project connecting downtown Hanoi and the capital’s outlying town of Son Tay under build-transfer (BT) format. The 31.1-kilometer line will require an estimated 1.4 billion euros (US$1.7 billion).

At the Vietnam-France Business Forum on the same day, the two sides also signed an MOU on upgrade of Hang Day Stadium in Hanoi at a total cost of around 250 million euros.

According to T&T, Bouygues is a world leader in design and construction of world-class infrastructure. The French firm will team up with T&T Group to design, construct, operate, maintain and fund the two projects.

Vietnam and France are celebrating the 45th anniversary of the establishment of diplomatic ties.

Over the past 25 years T&T Group has been active in finance, real estate, trade, minerals, energy, traffic infrastructure, agricultural business, seaport logistics, manufacturing and healthcare-education-sports.

SGT