Private domestic SVA Financial Group last weekend broke ground on the Dan-Nui Coc Lake road to offer a lifeline to northern Thai Nguyen province.
The road is being implemented under the build-transfer (BT) model and the investor will receive land for developing nine urban township projects. As estimated, about VND97 trillion ($4.8 billion) will be invested in the Dan-Nui Coc Lake urban road and the urban town.
The two-lane road will be 13 kilometres long and 48 metres wide with resorts, schools, hospitals, sports centres and recreational facilities to be developed alongside the road. The nearby Nui Coc Lake will host luxurious tourist resorts, entertainment areas and a golf course.
SVA chairman Nguyen Minh Son said the construction of the new road would help boost a modern tourism hotspot in the north.
The road is to be completed in 36 months and will boost Thai Nguyen’s socio-economic development and allow it to develop traditional steel and tea production in addition to new tourism, real estate, industry and education sectors. It will also encourage other investors to come and do business in Thai Nguyen and help create more jobs for local residents.
“Thai Nguyen has been defined as a centre of the northern mountainous region by the government and the Dan-Nui Coc Lake road and urban areas along the road are in line with the government’s development strategy,” Son said.
SVA Financial Group was established in Hanoi in 2005 and has charter capital of VND2.8 trillion ($135.6 million) after seven years operating.
SVA Financial Group is regarded as one of just a few businesses in the sector whose operations have been ‘good’ for several consecutive years.
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