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.
Sun Group, the winning bidder, will undertake the project from 2025 to 2028. With a total investment of over VND 4.665 trillion, the funding will be sourced from two primary channels: owner’s equity and other legally mobilized capital. The owner’s equity contribution amounts to nearly VND 700 billion (15%), while the remaining VND 3.965 trillion will be raised through external financing.
Rendering of the To Lich River renovation project. Image: Developer
The Hanoi People’s Committee mandates that Sun Group ensures the accuracy of all bidding documents and demonstrates sufficient financial capability to execute the project. The investor is also required to prepare a feasibility study report and draft contract for submission to authorized agencies for approval.
Throughout implementation, Sun Group must comply with legal regulations governing investment, construction, environmental protection, and fulfill all financial obligations to the state.
As outlined in Resolution No. 471 by the Hanoi People’s Council, the project spans the To Lich River banks across multiple wards, including Ngoc Ha, Nghia Do, Lang, Giang Vo, Cau Giay, Yen Hoa, Thanh Xuan, Dong Da, Khuong Dinh, Dinh Cong, Thanh Liet, and Hoang Liet.
Covering approximately 737,927 square meters, the project includes key components such as road systems, sidewalks, plazas, riverfront walkways, seating areas, parking lots, sports fields, pedestrian pathways, service buildings, landmark structures, and supporting facilities.
Additional features encompass a comprehensive greenery system with riverside shade trees, shrubs, lawns, aquatic plants, climbing vines, and urban amenities like seating, trash bins, outdoor fitness equipment, playgrounds, sculptures, and lighting systems.
Under the BT contract, payment will be made through land allocation. The preliminary plan designates approximately 34.8 hectares of land in Son Dong and An Khanh communes, valued at around VND 5 trillion, for this purpose.
The 13.4-kilometer To Lich River originates from Nghia Do Canal (Hoang Quoc Viet Street), flowing through numerous wards before discharging into the Nhue River via Thanh Liet Dam or the Red River through the Yen So pumping station. Historically a tributary of the Red River, the To Lich has suffered severe pollution due to insufficient clean water, primarily receiving domestic wastewater and stormwater runoff.
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