Sumitomo chooses five Japanese partners to build Hanoi smart city
Japanese trading house Sumitomo Corp. has taken on five partners for its smart city project in Hanoi, taking advantage of their infrastructure, technology, and other know-how for development efforts kicking off in fiscal 2021, according to Nikkei Asia Review.
Sumitomo Corp. has taken on five partners for its smart city project in Hanoi. (Photo: Nikkei Asia)
Tokyo (VNA) – Japanese trading house Sumitomo Corp. has taken onfive partners for its smart city project in Hanoi, taking advantage of theirinfrastructure, technology, and other know-how for development efforts kickingoff in fiscal 2021, according to Nikkei Asia Review.
The partners are information technology giant NEC, Topco Power Grid- theelectricity transmission unit of Tokyo Electric Power Co. Holdings, NTTCommunications, Mitsubishi Heavy Industries Engineering, and advertisingHakuhodo.
A consortium to discuss specifics has been launched, with plans toset up an operating company in the second half of that year.
Under the envisioned plans, Tepco Power Grid and Mitsubishi HeavyIndustries Engineering will build infrastructure for the stable supply ofelectricity and balancing supply and demand. NTT Communications and NEC areexpected to handle the internet of things and such security technologies asfacial recognition, while Hakuhodo will likely develop services for residents.
Sumitomo is developing about 270 hectares in the Dong Anhdistrict, about 20 minutes by car from the centre of Hanoi, with localdeveloper BRG Group. Roughly 7,000 condominium units will be built in thefirst phase, slated to begin in fiscal 2021. The work, which will also includeoffice and commercial buildings, is expected to take 10 to 15 years.
The roughly 450 billion JPY (4.29 billion USD) undertaking will bethe largest smart-city project led by a Japanese company in Southeast Asia.Sumitomo and BRG, which have the rights to operate the city for 50 years, willalso look for partners and investors to help with operations./.
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Sumitomo Corp. has taken on five partners for its smart city project in Hanoi. (Photo: Nikkei Asia) 
