South Korean engineering and construction firm Daelim Industrial has won a contract valued at around $84m to build a light rail transit system in Vietnam.
The contrac is Daelim’s first rail project in the country and forms a part of the Vietnamese Government’s plans to deal with the heavy traffic congestion in major cities.
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The contract covers construction of an 8.5km elevated rail system in downtown Hanoi, reports Yonhap News Agency.
Construction work on the light rail transit system is set to begin in May and is expected to be complete by the end of 2016.
Vietnam is currently planning to develop eight rail transit lines in Hanoi alone, Daelim said.
Daelim Industrial said: "The project can open new opportunities for Daelim to expand its business areas."
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By GlobalDataThe company is seeking to expand its presence in South East Asia and the Middle East. It has won several other projects to construct bridges, airport terminals, port facilities and power plants, as well as expanding into civil engineering and public work projects.
Daelim Industrial is engaged in the engineering and construction, and petrochemical operations in South Korea and internationally.
It is also involved in building and housing works, including residential projects, commercial and mixed use projects, and remodelling activities; and civil works, such as roads, bridges, railway, waterworks, sewage facilities, dams and others.
