New resort in Danang
Son Tra Shareholding Company has started work on the Son Tra Resort & Spa in Son Tra Peninsula, Danang. The five-star beach resort, capitalized at US$41 million, will have more than 400 rooms, 200 luxury villas, a convention center, and sport and recreation facilities. It will be completed in late 2006 and managed by Swiss-belhotel International.
French banks funds cement project
French banks Societe Generale and BNP Paris have pledged to provide a US$150-million loan for Vietnam Construction and Import-Export Corporation (Vinaconex) to buy equipment to build a cement plant in Cam Pha Town of Quang Ninh Province and a cement grinding station in My Xuan A Industrial Park, Ba Ria-Vung Tau Province. The project, estimated to cost VND4.7 trillion (US$302 million, will produce 2.3 million tons of cement a year.
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It takes money, times and efforts to rebuild a country anew, and Da Nang City is developing so rapidly!