Work Starts on US$29.4M Sea Tourism Resort in South Vietnam
Asia Tourism and Construction Investment Joint Stock Company under local Cotec Group Wednesday started construction on a sea tourism resort worth VND500 billion (US$29.4 million) in southern Ba Ria-Vung Tau province.
The New Horizon Resort, located on a site of 76,905 square meters, includes a five-star hotel, 16 luxurious villas, 24 single bungalows and 12 pair bungalows, the state-run Thoi Bao Kinh Te newspaper said.
Other facilities are conference and sports areas. Construction on the project lasts two years.
COTEC has developed into a dynamic economic group after 14 years of operations.
It aims to become a multi-sector group by 2015 with 15 affiliates operating in the key areas of industry, real estate, construction, financial investment and communications. (Vietnam Economic Times May 07 p1)
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