MIK Group proposes 229,945 billion VND Day River renovation

MIK Group Vietnam has submitted a proposal to the Hanoi Department of Finance for a massive renovation project of the Day River. The project, estimated to cost approximately 229,945 billion VND, is proposed under a Public-Private Partnership (PPP) model using a Build-Transfer (BT) contract.

The initiative aims to restore the river's flow and establish a multi-functional development corridor encompassing irrigation, transportation, environmental protection, urban development, ecology, and landscaping. The project is divided into four components: site clearance and resettlement, irrigation and dike systems, transportation and technical infrastructure, and wastewater collection and treatment systems.

In exchange for the investment, MIK Group has requested payment via a land fund totaling approximately 3,705 hectares distributed across various districts in Hanoi, including large plots in Phu Xuyen, Dai Xuyen, Phuc Tho, and Gia Lam. The company expects to complete investment preparation procedures by December 2026, with construction potentially beginning in the second quarter of 2027 and full project completion targeted for the fourth quarter of 2030.