On August 7, Khanh Hoa Provincial People's Committee said that it had submitted a report to the Provincial People's Council proposing to issue a Resolution approving the list of land plots for bidding to select investors for the Vinh Luong Mixed-Use Urban Area Project in Bac Nha Trang ward.
The project has a scale of about 254ha, with a total investment of more than 49,000 billion VND.
According to the submission of Khanh Hoa Provincial People's Committee, the locality proposed that the Provincial People's Council issue a Resolution approving the list of land plots for bidding to select investors to implement land-using investment projects in the province.
The project is proposed to be included in the list as Vinh Luong Mixed Urban Area, implemented in Bac Nha Trang ward.
The project has a planned land use area of about 254ha, a total investment of more than 49,000 billion VND, and a population of about 11,709 people. The project's operating period is 50 years.
According to Khanh Hoa Provincial People's Committee, the project is in accordance with the approved planning projects.
Regarding progress, the project is expected to be implemented in 102 months from the date the Provincial People's Committee issues a decision to select investors, correspondingly from the third quarter of 2026 to the fourth quarter of 2034.
According to the capital mobilization plan, investors will use equity to participate in project implementation, and at the same time mobilize capital from credit institutions.
The credit contract is expected to be signed within 6 months from the date of being approved to become an investor, the sponsoring bank will disburse according to the project implementation progress within 102 months.
The time to complete legal procedures and start construction is expected to be 18 months from the date of issuance of the investor selection decision.
After the project is granted a construction permit and commenced construction, the basic construction progress and putting the project into operation or exploitation in each phase is no later than 12 months.
Khanh Hoa Provincial People's Committee said that the project has met the conditions to approve the investment policy according to the provisions of law.
To have a basis for approving the investment policy and organizing bidding to select investors according to the provisions of law, the Provincial People's Committee submits to the Provincial People's Council for consideration and approval of the Resolution approving the list of land plots for bidding to select investors to implement investment projects using land for the land plot to implement the Vinh Luong Mixed-Use Urban Area Project.
