A joint venture between Vietnam and Oman, the first phase of the Duong River Surface Water Plant in the capital is to be completed by 2020.
The first phase of the Duong River Surface Water Treatment Plant will be finished by 2020, according to the Vietnam - Oman Investment Company (VOI).
The project is a key national project in Hanoi’s 2030 water plan and vision to 2050 and is being developed by VOI, the New Technology Application and Tourism One Member Company Limited (NEWTACO), VietinBank Capital, and the Hanoi Water Limited Company (Hawaco). Construction is to begin this year or next at the latest.
“The Duong River Surface Water Treatment Plant is one three major plants in the master plan of the government to provide a clean and reliable source of water to northern and southern parts of Hanoi, with a capacity of 300,000 cu m per day in the first phase and 600,000 cu m per day in the future,” said Sheikh Sultan Saif Hilal Al-Mahrouqi, Ambassador of the Kingdom of Oman to Vietnam, when the project was licensed on June 3.
Diplomatic relations between Vietnam and Oman were established in 1992 but only recently have trade and investment cooperation deepened, including the setting up of the VOI joint venture between the two sovereign wealth funds of Oman and Vietnam - the State General Reserve Fund (SGRF) and the State Capital Investment Corporation (SCIC).
“The joint venture has invested throughout Vietnam with a strategy of focusing on sectors that are essential to long term economic development and to the benefit of the local population, such as infrastructure, healthcare, and consumer goods,” the Ambassador added. “This water treatment plant is in line with that investment philosophy.”
Founded in 2009, VOI has bolstered its investment in Vietnam over recent times. It mainly focuses on long term and valuable investments in growth sectors such as power plants, toll roads, water supply, ports and logistics, consumer goods, healthcare, agriculture, and manufacturing.
It has been involved in projects such as Vinmec International Hospital, the Vinh Son - Song Hinh Hydro Power Plant, the Toan My Highway 14 BOT JSC, the Ho Chi Minh City Infrastructure Investment JSC (CII), the Saigon Water Infrastructure Corporation (SII) in Ho Chi Minh City, and this project in Hanoi.