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FECON receives assistance from Japanese partners

Released at: 16:18, 07/06/2017

FECON receives assistance from Japanese partners

Photo: FECON

Japanese partners to transfer technology and management capacity in transport infrastructure to Vietnam's FECON JSC.

by Linh San

The FECON JSC has signed a strategic cooperation agreement with the East Nippon Expressway Company (NEXCO) and the Expressway International Company Limited (JEXWAY) from Japan on the investment and development of transport infrastructure projects in Vietnam.

The signing was witnessed by Prime Minister Nguyen Xuan Phuc and his Japanese counterpart Shinzo Abe at an investment promotion forum held during Prime Minister Phuc’s visit to Japan from June 4 to 8.

The Japanese partners will transfer their technology and management capacity in transport infrastructure to FECON.

Mr. Miyaike, Chairman and CEO of NEXCO, said the signing of the agreement and the purchase of a stake in a build-operate-transfer (BOT) marked the beginning of partnerships with potential Vietnamese companies, such as FECON and FCI, as well as its first official participation in a project in Vietnam.

NEXCO and JEXWAY will also connect FECON with other Japanese investors and partners, as well as create opportunities for investment in transport infrastructure in other countries in the region.

In the first phase of the cooperation, the two Japanese companies will buy a 20 per cent stake from FECON in a BOT project that includes a bypass road on National Highway No.1 in Phu Ly town and reinforcement works from Km215+775 to Km235+885 in northern Ha Nam province.

NEXCO and JEXWAY will take part in managing and operating the project and will apply their experience and advanced management technology.

The two Japanese companies are the first foreign businesses participating in a BOT project in Vietnam’s transport sector.

Mr. Pham Viet Khoa, Chairman of FECON, said the participation of NEXCO and JEXWAY in the Phu Ly bypass road project will make a great contribution to its success and bring scientific Japanese operational and exploitation methods to Vietnam.

The FECON JSC was established in 2004 by highly-qualified engineers and leading experts in foundation engineering and underground construction. With professional, dynamic, creative, and skilled personnel and synchronous, modern equipment and technologies, FECON has become one of the leading companies in foundation engineering and underground construction in Vietnam.

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