Japan firm licensed to operate $2 mln Vietnam bus route
Japan firm licensed to operate $2 mln Vietnam bus route
A Japanese firm will invest in two eco-friendly bus lines that cost an estimated US$2 million dollars via a joint venture with a local company under a license granted last month by authorities in a southern Vietnamese province.
The People’s Committee of Binh Duong Province issued on February 20 an investment license to Becamex Tokyu Bus Co Ltd, a joint venture between Japan’s Tokyu Group and Vietnam’s Becamex Binh Duong Corporation, which allows it to operate two bus services there.Becamex Tokyu Bus will spend over VND40 billion ($2 million) on the bus lines which are expected to begin operations in May this year.
The new buses will run on compressed natural gas, also known as CNG, which is more environment-friendly and cost-effective than normal fuel.
They will ply along a 20km route between the current provincial capital Thu Dau Mot City and Binh Duong New City, a 1,000-hectare modern complex set to become Binh Duong’s future administrative center.
Thu Dau Mot City is about 30km from Ho Chi Minh City, Vietnam’s southern economic hub.
Tokyu Group is now investing in Tokyu Binh Duong Garden City in the province, a 110-hectare urban area with a total registered capital of $1.2 billion.
Work on the project officially started in March 2012.
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