Gamuda receives investment certificate for massive sewage project

04-Jan-2008 Intellasia | Bernama | 5:15 AM

Gamuda land Vietnam LLC, a subsidiary of Gamuda Bhd in Vietnam has been granted an Investment Certificate by the Hanoi City People’s Committee to develop the Yen So Park project, located south of Hanoi city centre.

In a statement today Gamuda said the development involved the design and construction of a RM1.5 billion (US$453 million) sewerage treatment plant, the biggest in Vietnam catering to 50% of Hanoi’s sewerage needs, and Vietnam’s largest public park, to be completed by 2010.

The company received the Investment Certificate on December 31, 2007.

Gamuda will be also developing a new urban centre and residential townships at the location which are expected to generate a gross development value of RM8 billion over the next eight to 10 years.

It said construction works on the project has already started with an officical ground-breaking ceremony held last month at the project site.

The project is expected to begin contributing strongly to the Gamuda group’s earnings with the financial year ending July 31, 2008.