Seoul, the capital of the Republic of Korea, will contribute 90 percent of the cost of mapping out a new urban center along Hanoi’s Hong (Red) River, the Hanoi Planning and Architecture Department said Saturday.
After the project plan is drawn up, it will be submitted for approval to the National Assembly in April 2009 and the Prime Minister two months later.
Once approved, authorities will call for bids to carry out the construction of the project.
It is estimated that construction of the new urban center by the Red River will cost about US$7 billion.
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