| Work starts on USD 6bil Dong Nai urban area | |
Construction has begun on the Eastern Saigon urban area project with total investment capital expected to amount to US$6 billion in Dong Nai Province’s Nhon Trach District. The province is bordering HCM City. The main investor is the Nhon Trach Investment Joint Stock Company, a member company of Tin Nghia Corporation. Covering 942ha with a proposed population of 150,000 people, the new urban area lies in the strategic traffic axis of the south-east region. The project is part of the Nhon Trach new urban area project, approved by the Prime Minister. Nhon Trach director Nguyen Hieu Loc said the company had issued five-year investment bonds to get capital. GP Bank had bought VND1trillion (USD 55.5 million). The investor will spend USD 220 million on infrastructure, such as electricity, sewerage and roading, for the project which will take 10-15 years to complete. | |
| VNS |
