Construction of a 1.2 billion USD new urban area started in the southern province of Binh Duong on March 2.

The Tokyu Binh Duong urban area covers an area of 71.5 ha and is being built by Becamex Tokyu Company Limited, a joint venture between Becamex Investment and Industrial Development Corporation (Becamex IDC) and the Japanese Tokyu Corporation.

Chairman of Binh Duong provincial People’s Committee Le Thanh Cung said the project will play an important role in provincial socio-economic development.

He also asked the two partners to promptly implement the project as part of the provincial plan on urban service development for the 2012-2015 period with a vision to after 2020.

At the groundbreaking ceremony, Chairman Cung granted an investment licence to Becamex Tokyu Co. Ltd.-VNA