City's people's committee to appoint contractors for $1.34 billion Hai Phong Cement urban area after PM gives go-ahead.
Prime Minister Nguyen Tan Dung has agreed with the principles for appointing contractors for the Hai Phong Cement urban area project and requested the Hai Phong People’s Committee to take responsibility for their appointment.
The Hai Phong Cement urban has investment capital of VND29 trillion ($1.34 billion) and is to be built on an area 79 hectares. Upon completion it will provide housing for 3,210 households and include 35-storey twin towers, a five-star hotel, a supermarket, offices, villas, and parks.
In May the PM requested a change of investor for the project, as part of restructuring the Vietnam Cement Industry Corporation (VICEM). He requested that the corporation focus all of its resources on developing its core business, with no other investments being made.
The new investor will be responsible for paying VICEM and must set aside an area within the project for a VICEM building and a museum on the cement industry.