French construction group Bouygues signed a 1.5 billion euro ($1.86 billion) contract to finance, build and operate a metro line in the Vietnamese city of Hanoi, the French presidency said on Tuesday.
Hanoi’s metro, the first in Vietnam, is considered essential to keep its population of 7.5 million circulating. It is planned to have eight lines when complete in 2050.
Meanwhile state utility EDF agreed to enter a consortium in charge of a 1.5 billion euros gas-fired power plant project in Vietnam. The deals were announced during a visit by Vietnam’s Communist Party General Secretary Nguyen Phu Trong to Paris.
EDF will take over fellow French group Engie’s stake in the Son My 1 liquefied natural gas project expected to come on stream between 2023 and 2028.