The funding is to be provided by the Ho Chi Minh City Finance and Investment Company (HIFC) and Vietcombank under an agreement signed on August 9.
Since 2015, HIFC and Sawaco have worked together in 33 projects to build reservoirs and water pipes with a total capital of VND3.3 trillion (US$145.2 million), of which HIFC contributed VND2.44 trillion (US$107.4 million).
Notable projects include the water supply network along the Ring Road 2, Huynh Tan Phat and Nguyen Dinh Chieu Streets, Tan Hiep and Thu Duc Water Plants.
Meanwhile Vietcombank has cooperated with a number of Sawaco’s subsidiaries to offer an electronic water bill payment service to around 795,000 households in Ho Chi Minh City.
Under the newly signed agreement, Vietcombank will expand the service to other parts of the city.
Ho Chi Minh City Deputy Chairman Tran Vinh Tuyen stated that the cooperation between HFIC, Vietcombank and Sawaco is necessary considering that the city is in dire need of funding to complete infrastructure projects.
