Hanoi to have US$90mil five-star hotel

Chairman of the Hanoi People’s Committee Nguyen Quoc Trieu presented the investment decision to PetroVietnam General Director Tran Ngoc Canh. VietNamNet Bridge - The Vietnam Oil and Gas Corporation (PetroVietnam) is about to build a complex of five-star hotel, luxurious apartments and offices in Tu Liem District, Hanoi. Chairman of the Hanoi People’s Committee Nguyen Quoc Trieu presented the investment decision of a five-star hotel in Tu Liem District to PetroVietnam on March 29. This is part of a 25ha project that was approved by the Prime Minister. According to PetroVietnam General Director Tran Ngoc Canh, this complex of hotel, apartments and offices will be built on an area of 3.7ha, with at least 350 hotel rooms, many luxurious apartments an offices for lease, totaling $90 million in investment. In addition, an office building of PetroVietnam, which may have 88 storeys, the highest building in Vietnam, and a large trading and entertainment centre will be built in the 25ha zone. PetroVietnam’s Oil and Gas Real Estate JS Company is assigned to complete investment formalities and site clearance for the construction of the five-star hotel project. Tran Ngoc Binh, Deputy General Director of the Oil and Gas Real Estate JS Company, told VietNamNet that the company is trying to complete preparations in August 2007 to start construction before September 1, 2007 and inaugurate the work before March 2010 to welcome the 1000th anniversary of Hanoi. (Source Viet Nam Net) (c) Money Maker Online www.funds-money.blogspot.com