US$4.2B Project in Vung Tau Still Waiting for Land
Winvest Investment Vietnam Company May 2 said it has not been able to kick off construction on its huge project worth US$4.2 billion in southern Ba Ria-Vung Tau province due to slow site clearance.
Vice Director Tran Van Son said after his company raised the project’s capital to US$4.2 billion from US$300 million in February this year, provincial authority pledged to provide nearly 100 hectares of land to implement the project’s first phase.
However, the company has to date yet received land due to stagnant site clearance, Son said, adding that Winvest has recently gave some US$6 million for the local authority to boost the site clearance.
The Saigon Atlantis project, to be built in Chi Linh, Cua Lap, will house a five-star hotel, villas, multi-functional entertainment areas, an 18-hole golf course, shopping malls and many other facilities. (Youth)
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