Dongbu Corporation is stepping up efforts to penetrate Vietnam's infrastructure market based on its Hanoi local subsidiary.
Dongbu Corporation said on Apr. 27 that it has established a local subsidiary in Hanoi, Vietnam, and is responding to projects with various funding structures, including official development assistance, multilateral development banks, and tenders by local governments.
A Dongbu Corporation official said, "Vietnam is an important market where demand for transportation and logistics infrastructure expansion is steadily increasing with economic growth and urbanization," adding, "We plan to strengthen our on-the-ground responsiveness centered on the Hanoi local subsidiary and, based on our existing project experience, enhance competitiveness in Southeast Asian markets, including Vietnam."
Dongbu Corporation successfully completed last year the "Tan Van–Nhon Trach Road Construction Section 2," which connects Ho Chi Minh City and Dong Nai Province in Vietnam. It also won the "My An–Cao Lanh Road Construction Project," ordered by the Ministry of Construction of Vietnam. This project will build a four-lane, two-way road and 18 bridges along a total length of 26.6 km and carry out soft-ground reinforcement work. The total construction cost is about 216.6 billion won, funded by the Economic Development Cooperation Fund (EDCF) official development assistance from The Export-Import Bank of Korea and by the Vietnamese government's resources. The construction period is about 36 months.