ID :
37886
Tue, 12/30/2008 - 09:41
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https://oananews.org//node/37886
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Golf cum hotel developer invests USD 1 billion in Vientiane
Golf cum hotel developer invests USD 1 billion in Vientiane
(KPL) The Lao government has given the green light to a Vietnamese golf developer, the Long Thanh Golf Investment and Trading Joint Stock Company, to construct an 18-hole golf course and a five-star hotel in Dongphosy area, Hardsaifong district, Vientiane capital.
This company will allocate US$1 billion for the golf and property development on 557 hectares of land and the lease period is 50 years. An extension of 25 years will be given on its expiry, but at the discretion of the investor.
The president of the company, Ms Tran Cam Nhung, said the entire project will be completed between 2009 and 2020 but the completion date of the golf course is 2009.
The two signatories to the MoU were the Deputy Minister of Planning and Investment Mr Thongmy Phomvisay and Ms Tran Cam Nhung and the signing ceremony was held at the Lao Plaza Hotel, Vientiane Capital last Friday.
The company will compensate the people who are presently carrying out farming on the site of this sports cum hotel site and who will have to vacate to make way for its development, said Ms Tran.
The Long Thanh Golf Investment and Trading Joint Stock Company is involved in the golf and hotel businesses in
Vietnam.
(KPL) The Lao government has given the green light to a Vietnamese golf developer, the Long Thanh Golf Investment and Trading Joint Stock Company, to construct an 18-hole golf course and a five-star hotel in Dongphosy area, Hardsaifong district, Vientiane capital.
This company will allocate US$1 billion for the golf and property development on 557 hectares of land and the lease period is 50 years. An extension of 25 years will be given on its expiry, but at the discretion of the investor.
The president of the company, Ms Tran Cam Nhung, said the entire project will be completed between 2009 and 2020 but the completion date of the golf course is 2009.
The two signatories to the MoU were the Deputy Minister of Planning and Investment Mr Thongmy Phomvisay and Ms Tran Cam Nhung and the signing ceremony was held at the Lao Plaza Hotel, Vientiane Capital last Friday.
The company will compensate the people who are presently carrying out farming on the site of this sports cum hotel site and who will have to vacate to make way for its development, said Ms Tran.
The Long Thanh Golf Investment and Trading Joint Stock Company is involved in the golf and hotel businesses in
Vietnam.
