Ocean Group finances 180b dong to build 4-star hotel in Lao Cai

Ocean Group (OGC) and Lao Cai International Hotel Joint Venture Co on July 11 signed a 180 billion dong credit contract to build a 4-star hotel and entertainment complex in the northern mountainous province of Lao Cai.
The 4.5-hectare project with a 12-storey hotel building in Kim Tam ward, Lao Cai city has a total investment for the first stage at 299 billion dong invested by Lao Cai International Hotel Joint Venture Co, of which 60 percent (180 billion dong) will be financed by Ocean Commercial Joint Stock Bank (OceanBank) under OGC.

In addition, Ocean Service and Hotel Joint Stock Co (OCH) has been selected as the manager for this hotel project. The project with the brand “StarCity Lao Cai Hotel” is expected to be completed in late 2013. – Vietbiz24

Tags: Ocean Group

Posted by VBN on Jul 15 2011. Filed under Banking-Finance. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry