Vinhomes withdraws from series of large-scale projects

April 05, 2021 | 15:12
(0) user say
Haiphong People’s Committee announced the withdrawal of Vinhomes from a new urban project located in the North Cam River area in Haiphong city, following others in Quang Ninh and Long An.
vinhomes withdraws from series of large scale projects
Vinhomes is withdrawing from large-scale projects in Haiphong, Quang Ngai, and Long An (Illustration image)

Accordingly, Vinhomes has decided to stop surveying and studying the infrastructure project of a new urban project in the North Cam River area.

In December 2019, Haiphong provided in-principle approval for Vinhomes to study the development of the infrastructure component of the new urban project in Thuy Nguyen district.

The prime minister approved the investment planning of the technical infrastructure project of the urban area in June 2016. The project would be complemented by Hoang Van Thu Bridge and the transport and technical infrastructure system covering numerous communes in Thuy Nguyen, Hong Bang, and Ngo Quyen districts.

The infrastructure project has a total investment capital of VND4.7 trillion ($204.35 million).

Previously, in December 2020, Quang Ngai People's Committee issued an announcement withdrawing its permission for investors to research, survey, and prepare investment proposals for 296 projects in the area, one of which is the Binh Chau tourism and resort complex of Vingroup.

Besides, in August 2020, Quang Ninh People’s Committee also withdrew the plot allocated to a complex of golf course, tourism, and amusement facilities and five-star hotels and resort at Khe Che Lake, An Sinh commune. The decision was also based on the proposal of the investor, Vingroup.

In addition, in July 2020, Vingroup proposed Long An People’s Committee stopped studies to build the planning of a new urban project in the province.

By Ha Vy

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional