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Tan Hoang Minh announced a USD 3.5 billion smart urban project

10/11/2020

The enterprise cooperated with domestic and foreign partners to develop a smart city complex that integrates advanced technologies.

The first two enterprises that Tan Hoang Minh Group shakes hands with are SEIN I&D VIETNAM CO., LTD and Korea Water Resources Corporation (K-Water). Parties aim to develop a Complex of smart city, tourism, hotel, and recreational park in Chuong My District, Hanoi with a total investment value of USD3.5 billion.

The complex has an area of 128ha, based on the model of smart cities in developed countries such as South Korea and Japan. Particularly, K-Water will  provide intelligent operation management technological solutions, water and environment treatment technologies.

Prime Minister Nguyen Xuan Phuc and representatives of the South Korean Government witnessed the joint venture cooperation signing ceremony among Tan Hoang Minh and partners.

By embarking on this Complex of smart city, tourism, hotel, and recreational park, Tan Hoang Minh Group expects to fetch the cutting-edge technologies from South Korea to Vietnam so as to develop an model smart urban area.
“The project will introduce new living standards, contribute to a well-formed and modern landscape for the capital, and improve the people’s life values”, said an enterprise representative at the cooperation signing ceremony between Tan Hoang Minh and the South Korean representative on November 28, under the witness of Prime Minister Nguyen Xuan Phuc beside the “Vietnam – South Korea Enterprises Forum” which was hosted by the Ministry of Planning and Investment.

K-Water Group is the largest leader in providing and constructing water resource management technological solutions in South Korea. As regard to development of industrial parks, smart cities and hydropower plants, K-Water owns many state-of-the-art, region-leading operation and management technologies.

K-Water has recently commenced a 1,000-hectare smart city project in Busan, South Korea, applying AI for entire city management, using clean renewable energy which saves 30%, and building a local clean water plant that supplies water to households.

According to the representative of Tan Hoang Minh, the Group is developing and expanding its scope of operation around the real estate sector, for example concrete – construction materials production, furniture manufacturing, chains of trading centers, entertainment and recreational parks, hotels, offices for lease, building management and operation.

“In the future, with a vision for the period 2030-2045, we will redirect to building smart urban areas and cities, green, clean, modern and civilized landscapes in Hanoi and some other provinces across the country”, said the representative. These smart urban areas and cities will use renewable energy, modern and eco-friendly water technologies to reduce 30-40% of electricity and water consumption.

Building smart megacities and integrating technology applications and artificial intelligence have become strategic solutions developed by many countries worldwide in order to solve social problems such as environmental pollution, resource scarcity, traffic congestion, waste treatment. In Vietnam, the scheme on “Smart Urban Sustainable Development in Vietnam” for the period 2018-2025 with a vision to 2030″ has been approved by Prime Minister Nguyen Xuan Phuc.