VIETNAM, May 21 - HÀ NỘI — Hòa Bình Construction Group signed a strategic cooperation agreement with CNCTech Group in the northern province of Vĩnh Phúc on Monday.

The construction group will be the main contractor for the design and construction of CNCTech's projects including industrial infrastructure, factory warehouses, logistics centres, social housing and an industrial tech city.

The total contract value between the two companies is expected to total VNĐ12 trillion (US$490 million).

CNCTech has committed to assign Hòa Bình its construction projects for the next four years. These include factories at Bá Thiện 1 Industrial Park and Nam Bình Xuyên Green Park Industrial Park located in Vĩnh Phúc Province. Construction on the two projects will begin this year and are expected to continue until 2026.

The two CNCTech projects are worth over VNĐ5 trillion.

Nguyễn Văn Hùng, Chairman of CNCTech Group, said he strongly believed that the strategic cooperation would create outstanding projects that meet the sustainable development needs of the business community and the world's leading corporations, while bringing a better working environment and quality of life to workers.

Lê Viết Hải, Chairman of the Hòa Bình Construction Group, agreed to commit maximum resources and advanced and modern equipment to complete the projects for the investor. — VNS