Polaris Kty raises serious land clearance concerns

The Tau Voi Lake Tourism and Services project was started last week with the first two items of a two-star hotel complex, high-rise buildings and villas in Ky Anh district.

VIR learnt that the investor was concerned about the land clearance and compensation process, key factors to keep the project on schedule.

“These activities, you know, are the most difficult task in any project in Vietnam,” a source from the company said.

He said local people, who would be moved to make way for the project, had not agreed to compensation.

Moreover, the 10 hectare resettlement area located in Ky Thinh and Ky Trinh communes was behind schedule.

The source added that it was the first project in Vietnam invested by Polaris Kty International, a company which has tourism development projects in China and the United States.

Located on 427ha, the project will be divided into eight functional areas, including two, three and five-star hotels, a golf course, farm, amusement park, a lake and entertainment facilities, shopping and conventional centre.

Especially, the investor would reserve 200ha to develop high-tech agricultural products to serve the Vung Ang Economic Zone.

Around $300 million will be invested in the first phase, which will build a two-star hotel and high-rise buildings and villas to cater to staff of the companies in the area.

The hotel and some first high-rise buildings will be finished in 2011 while the whole project would be finished in 2018.

According to Vung Ang Economic Zone management board deputy director Thai Van Hoa the project had many advantages to become a tourism complex, including a beautiful lake, good transport access linked to National Roads 1A and 1B.

“Not many projects have such good transport conditions,” Hoa told VIR.

With an area of approximately 23,000 hectares of nine communes in Ky Anh district, Vung An Economic Zone has many large-scale projects plus a thermal power complex and deepwater seaports.

According to the management board, in the four years since the establishment, the zone had attracted 99 investment projects.

Outstanding projects include the $8 billion Son Duong Steel and Port Complex, the $1.2 billion Vung Ang 1 power plant and Formosa’s $12.4 billion petrochemical complex.