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BRG Group’s Smart City Project: The capital is just over $ 4 billion?

BRG Group's Smart City Project

City People’s Committee Hanoi has just sent a letter to the Ministry of Construction and some relevant ministries for a review of the project’s smart city record with a total investment of $ 4.138 billion.

People’s Committee of. Hanoi has just sent a letter to the Ministry of Construction and some relevant ministries for a review of the project’s smart city record with a total investment of $ 4.138 billion.

Specifically, the text of TP. Hanoi project partners include BRG Group; Phu Cuong Real Estate Investment Limited Company, Motor NA Company Limited; Hanoi Real Estate Services and Trading Corporation and Sumitomo Corporation (Japan) proposed to set up 5 companies to implement 5 component projects.

It is expected that the smart city project will be started in 2018 and completed in 2030. The project duration is 50 years.

The project has an area of ​​271ha in Hai Boi, Vinh Ngoc, Dong Anh District, Hanoi. The project is in the detailed plan of Nhat Tan Street – Noi Bai Street 1/500 approved by Decision No. 6630QD-UBND dated December 02, 2015.

Intelligent City with registered investment capital of about VND94.3 trillion, equivalent to VND4.138 billion, of which the contributed capital for the project is VND14.260 billion (of which Sumitomo Corporation Japan contributed 50 % and Vietnamese investors 50%).

BRG Group's Smart City Project
BRG Group’s Smart City Project

The project consists of 5 component projects. Component 1 will have an area of ​​73ha, total investment capital of VND12.929 trillion, to be implemented from 2018-2020;

Component 2 will have an area of ​​35.23 ha, The total investment capital is VND23,118 billion and will be implemented from 2020 to 2030.

Component 3 has an area of ​​65.76 hectares, total investment capital is VND38,117 billion, equivalent to $1.67 billion, progress from 2022 to 2026.

Component 4 has an area of ​​30.2 ha, total investment capital is VND15.273 billion, implementation progress from 2024 to 2028.

Component No. 5 has an area of ​​67.51 hectares with a total capital of VND4.909 trillion, with the implementation schedule from 2020 to 2024.

Japan's Nikkei reported that the value of smart city investments in Hanoi was $ 37.3 billion.
Japan’s Nikkei reported that the value of smart city investments in Hanoi was $ 37.3 billion.

According to the consultation documents of the City People’s Committee. Hanoi, the total project investment is expected to be nearly $ 4.138 billion with an area of ​​271ha. According to a report in the Japanese newspaper Nikkei, the most modern smart city in Southeast Asia is expected to have a total investment of $ 37.3 billion on an area of ​​310 hectares.

Thus, the investment value of the smart city project in the North of Hanoi has a large difference between $ 4 billion and $ 37.3 billion.

According to some experts, the difference may be due to the calculation of the total cost of construction of many items of infrastructure … of many enterprises combined.

However, the difference is quite large, so there should be unity, publicity of construction items, construction costs … to achieve the government goal set out to build a smart city does Greatest in Southeast Asia, serving the socio-economic development of the country.

At present, stakeholders have not explained the difference.

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