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Vietnam’s Khanh Hoa seeks investors for $3.7bn urban area project

Vietnam’s Khanh Hoa seeks investors for $3.7bn urban area project

Saturday, May 06, 2023, 09:37 GMT+7
Vietnam’s Khanh Hoa seeks investors for $3.7bn urban area project
A section of Thuy Trieu Lagoon in Cam Nghia Ward, Cam Ranh City, Khanh Hoa Province, south-central Vietnam, which will be mobilized to make room for a US$3.7-billion urban area project along Cam Ranh Bay. Photo: Phan Song Ngan / Tuoi Tre

The administration in Khanh Hoa Province in south-central Vietnam is seeking local and international investors for a project to develop an urban area worth some VND85.3 trillion (US$3.7 billion) along Cam Ranh Bay.

The estimated investment of the project does not include compensation and resettlement costs totaling over VND997.2 billion ($42.7 million), according to the Khanh Hoa Department of Planning and Investment.

The prime minister on April 1 this year approved the project, which will be developed on an area of over 1,254ha in 10 communes and wards of Cam Ranh City, Khanh Hoa Province.

The project will have a lifespan of 50 years and accommodate 230,800 people.

The urban area was designed to have more than 10,700 villas, 8,500 detached houses, and 19,800 social houses.

The project is expected to be executed in five years, from 2023 to 2027.

Interested investors can register to conduct the project on the national online bidding system until 5:00 pm on May 25 this year, the Khanh Hoa Department of Planning and Investment informed.

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Thanh Ha - Phan Song Ngan / Tuoi Tre News


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