Saigontourist spends $2 bln on infrastructure

The Saigon Travel Service Company (Saigontourist) has recently announced a plan to invest $2 billion in a number of infrastructure projects in the 2011-2015 period.

The projects to benefit include the sea-encroached town of Sun bay located in Can Gio district, 50 km from Ho Chi Minh City, with a total capital of $1.2 billion.

The second phase of the Saigon Exhibition Centre, costing an estimated $300 million and several others such as the Kim Do office and hotel complex, Majestic Tower and the Saigon-Gemadept Tower, with a total cost of $50-$100 million.

Nguyen Huu Tho, Saigontourist’s director general said that that apart from these new projects, the company would continue investing in several others such as the Saigon-Phu Quoc tourism area, with an expected capital of $200 million and the Thu Thiem complex, with $200 million.

Saigontourist will also attach a lot of importance to upgrading technological and material facilities, personnel training and improving the quality of its products, said Tho.

In term of overseas investment, the company has injected an initial $27 million into the Cho Ray Hospital in Cambodia. It is also a shareholder in a 5,000 ha rubber project in Laos and owns a 200-room hotel worth $50 million in the US. – VIR

Tags: Saigontourist

Posted by VBN on Feb 23 2011. Filed under Tourism. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry