Vingroup subsidiary eyes $40.25 million Can Gio golf project

November 30, 2016 | 17:14

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Can Gio Tourist City (CTC), a Vingroup subsidiary, may be allowed to develop the Can Gio Golf Club project with the total capital of VND900 billion ($40.25 million) on the land area reclaimed from the sea in Ho Chi Minh City’s Can Gio district.

According to newswire Saigontimes, the Ho Chi Minh City People’s Committee has proposed the Ministry of Planning and Investment to add CTC’s project to the national golf course development plan by 2020.

The investor confirmed compliance with regulations during the construction progress and committed to finishing within 24 months of the grounds being handed over.

Earlier, in November 2015, CTC proposed the city to expand an urban area, also known as Can Gio urban-tourism project, by 480 to 1,080 hectares to house more facilities, including a golf course, a studio for movie production, and a helipad.

Preparations for the sea reclamation project in Can Gio were made 15 years ago but construction has yet to be implemented due to various reasons. The VND8.47 trillion ($378.8 million) project has been delayed since it got off the ground in late 2007.

In June 2015, the city allowed Vingroup to take part as a strategic partner to put it on fast-track and give a boost to the development of Can Gio district.

Vingroup planned to build hospitals and schools and will launch various tours, such as visits to the historic relics of the Sac Forest War or a study tour based on environmental issues, such as climate change, to develop green urban tourism and ensure sustainable development.

Established in 2004, CTC specialises in investing in and developing sea urban projects in Vietnam. It co-operated with Dai Phu Gia-South Construction consortium to develop Saigon SunBay, a $47.4 million reclamation project with a total area of 600ha located at Long Hoa village, Can Gio district.