The Hanoi People’s Committee has officially approved the selection of Sun Group as the investor for the public-private partnership (PPP) project to renovate, upgrade, and reconstruct the parks along both banks of the To Lich River. The project will be executed under a Build-Transfer (BT) contract model.
Project rendering.
The project spans multiple districts, including Ngoc Ha, Lang, Nghia Do, Giang Vo, Cau Giay, Yen Hoa, Thanh Xuan, Dong Da, Khuong Dinh, Dinh Cong, Thanh Liet, and Hoang Liet. Sun Group, a leading corporation, has been awarded the contract to execute this transformative initiative.
The total investment for the project is estimated at over 4.6 trillion VND. This includes nearly 700 billion VND in equity capital and 3.965 trillion VND in legally mobilized funds. The project is scheduled to commence in 2025 and is expected to be completed by 2028.
Project rendering.
As part of their responsibilities, Sun Group must secure the necessary financial resources and develop a capital mobilization plan aligned with the project timeline. Additionally, the investor is required to prepare a detailed feasibility study report and draft contract for approval by the competent state authorities, in compliance with all regulatory requirements.
The Hanoi Department of Construction has been tasked with reviewing the feasibility study and overseeing the project’s implementation to ensure adherence to standards and timelines.
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