3:33:24 PM | 19/8/2009
The Nhon Trach Investment Joint Stock Company kicked off construction on August 16 of the Eastern Saigon urban area with a total investment of US$6 billion in the southern province of Dong Nai.
Of the sum, US$220 million will be used to build infrastructure for the urban area, which is located on a 942-hectare site in the center of Nhon Trach district, boasting access to a number of main highways and roads in southeastern Vietnam.
The new urban area will include transport roads, model houses, green parks and lakes, and 150,000 people are expected to reside there, the paper said, citing Nguyen Hieu Loc the company’s director.
Construction on the Eastern Saigon urban area is scheduled for completion within the next 10-15 years.
At the groundbreaking ceremony, the Nhon Trach Investment JSC also signed a contract with the GP Bank; under which, the lender bought VND1-trillion in corporate bonds from the company. (Capital Security)
Vietnamese
