French Vinci Construction Grands Projects has signed a memorandum of understanding (MoU) with Vietnam’s Deo Ca Investment JSC for construction of Ca Pass Tunnel in central Vietnam which is estimated to cost $501 million. Construction of the 5.7-kilometer tunnel is expected to start this October and finish in 2014, the Thoi bao Kinh te newspaper reported June 25. Besides the agreement with Vinci, Vietnam infrastructure firm also has signed other MoUs with Egis, Apave company and Crédit Agricole and Société Générale banks. Under the MoUs, consultant and project management company Egis will carry out studies relating to the project, inspection specialist Apave will monitor and control project quality and Crédit Agricole and Société Générale banks will finance the project. The agreements were signed in the presence of France's Secretary of State for Transport, Dominique Bussereau and Vietnamese Minister of Construction, Nguyen Hong Quan. As of April 20, French companies poured $2.94 billion in 294 projects in Vietnam, ranking 15th among the foreign investors making investment in the country.
