VINCI Concessions has signed a cooperation agreement with Vietnam Expressway Corporation (VEC), the Vietnamese highways agency. The signing at Government Guest House in Hanoi was followed by a ceremony attended by President Trần Đại Quang of Vietnam and President François Hollande of France.
The VEC-VINCI Concessions partnership covers joint development of concession schemes for road infrastructures currently operated by VEC as well as technology exchange. The cooperation agreement also focuses on construction, financing and operation by VEC and VINCI of new greenfield motorway projects involving the VINCI Group's concessions and contracting businesses.
As part of the strategic partnership, VINCI Concessions, via its subsidiary VINCI Highways, will take part in Vietnam's ambitious infrastructure development programme. The country plans to build a national expressway network, including the 1,800 km North-South expressway, the country's backbone, notably on the basis of the public private partnership model.
This is a demonstration of VINCI Concessions' dynamic expansion in high-growth countries. VINCI Concessions is already present in Asia via its subsidiary VINCI Airports, which operates the airports in Cambodia and Osaka, Japan.
Lastly, this operation bears witness to VINCI's ambitious expansion strategy outside Europe.