Sumitomo chooses five Japanese partners to build Hanoi smart city
(VOVWORLD) - Japanese trading house Sumitomo Corporation has taken on five partners for its smart city project in Hanoi, taking advantage of their infrastructure, technology, and other development efforts kicking off in the second half of the fiscal 2021.
 The design for smart city project in Hanoi (Photo: nikkei.com) |
Sumitomo is partnering with local developer BRG Group to develop about 270 hectares in Dong Anh district, about 20 minutes from the centre of Hanoi by car.
The roughly 450 billion JPY (4.29 billion USD) undertaking will be the largest smart-city project led by a Japanese company in Southeast Asia.
Sumitomo and BRG, which have the rights to operate the city for 50 years, will also look for partners and investors to help with operations.