Highest proposed building in Vietnam loses height

March 28, 2011 | 16:00

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PetroVietnam Tower, expected to be the highest tower in Vietnam, will be cut off to 79 storeys, instead of a planned 102.

illustration photo

At a press conference held recently in Hanoi, Vu Duc Thuan, general director of PetroVietnam Construction Joint Stock Company (PVC) – the body was assigned by PetroVietnam to be the project investor, said it aimed to reduce the investment capital and to make the building more efficient.

Accordingly with reduced the height, the investment capital of the project also was reduced to $600 million, from $1 billion.

Thuan said PVC would call on strong financial partners to take part in the project and it planned to take a 15 per cent stake in the project.

Initiated in 2009, PVN Tower will sit on 6.5 hectares in Tu Liem district’s Me Tri commune along side Thang Long boulevard. The project will feature a trade centre, offices and apartments for lease.

The project is planned to start construction in 2012 and put into operation after 36 months of construction.

By Bich Ngoc

vir.com.vn

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