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PetroVietnam ordered to stop development of multi-use complex

Update: March, 21/2012 - 12:06

HA NOI – The Prime Minister recently directed the Viet Nam Oil and Gas Corporation (PetroVietnam) to discontinue development of a five-star hotel, trade centre, theme park and high-rise complex in Ha Noi's Tu Liem District.

The direction aims to ensure PetroVietnam focuses its efforts on developing key industries and business sectors in accordance with Government policy.

PetroVietnam was instructed to co-ordinate with the People's Committee of Ha Noi to list the volume of work which was already completed for the project, such as planning, investment preparation, and fund-raising.

PetroVietnam Construction Joint-stock Corporation was reassigned to continue development of the trade centre complex which would include the PetroVietnam Tower and a theme park on 21.2 ha in Tu Liem District's Me Tri Commune.

The PM noted that PetroVietnam was only permitted to contribute a minimal amount of money to construct the corporation's offices and would also need to change the name 'PetroVietnam Tower' to a different name. – VNS

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