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Daewoo E&C to develop $390 million project in Thai Binh
On August 22, Daewoo Engineering & Construction (E&C) announced that it has been approved to develop the Kien Giang New City Development Project in Thai Binh province.
Kien Giang New City covers 963,000 square metres within the capital city of Thai Binh province. The project boasts residential and commercial zones, apartment complexes and social housing areas. The project will be developed in the next decade from 2025 to 2035 with an investment of approximately $390 million.
As reported by Business Korea, Daewoo E&C has joined forces with Vietnamese company Green Eye Park and mid-sized Korean company Zenith to bid for the Kien Giang New City development project. The Korean builder will lead the project with a 51 per cent stake in the project.
“By forming a consortium with a mid-sized Korean company and a Vietnamese company, we are creating a win-win model between large and small companies and also Korean and Vietnamese companies,” said Daewoo E&C. "Based on our experience in building Star Lake City in Hanoi, we will take the lead in mapping out a development plan for this new city to create a balanced new city that integrates residential and commercial areas, educational, green space and culture.”
The Korean construction company has been participating in new urban development projects in various regions, including Star Lake City in Hanoi, Kien Giang New City in Thai Binh, and Dong Nai province.
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