Vietnam will shortly embark on a 30- billion US dollar project to build the largest urban area in the capital city of Hanoi, local newspaper Vietnam Economic Times reported Monday.

The municipal authorities will call for both local and foreign companies to invest in building the 11,562-hectare area in the rural district of Dong Anh, including key infrastructure works in the 2005-2010 period, and other facilities around the Noi Bai International Airport from 2010 to 2015, in order to accommodate 764,000-769,000 people by 2020.

The authorities are determined to turn the future urban area into a modern industrial, trading and service center, the report said.

Total investment for the project is estimated at 30 billion dollars, part of which will come from official development assistance.

Source: Xinhua