 |
<이미지를 클릭하시면 크게 보실 수 있습니다> |
SEOUL -- Shares of GS Engineering and Construction were on the rise on Monday on news that the South Korean builder has been allowed to resume the development of its $189 million new township project in Ho Chi Minh City, Vietnam, after eight years of delays.
As of 11:00 am (0200 GMT), GS E&C, an LG Group unit, was up 6.42 percent to trade at 46,400 won (43.3 US dollars). The Metrocity development project dates back to 2004 when the builder purchased land in Ho Chi Minh City for the completion of its GS Metrocity by 2032.
GS Metrocity will consist of a financial center, shopping malls, and high-end office and apartment blocks. Since receiving its investment certificate in 2007, the project has been delayed due to difficulties in land clearance and compensation as well as a disagreement with local authorities on tax obligations.
On May 3, Vietnam Investment Review (VIR), a newspaper in the Southeast Asian country, reported that GS E&C got the green light from the Ho Chi Minh City People's Committee to resume its project in the Nha Be district.
As the People's Committee of Nha Be was asked to push for land clearance and compensation by May 2018, all necessary procurements must be finished, and the cleared land must be transferred to the developer by the end of May, VIR said, adding city authorities hope to start the project in the third quarter of this year.
The GS group has been involved in other projects in Vietnam. Its retail arm, GS Retail, is building a $30 million trade complex in the southern province of Binh Duong.
Lim Chang-won Reporter cwlim34@ajunews.com
Lim Chang-won cwlim34@ajunews.com
- Copyright ⓒ [아주경제 ajunews.com] 무단전재 배포금지 -
이 기사의 카테고리는 언론사의 분류를 따릅니다.
기사가 속한 카테고리는 언론사가 분류합니다.
언론사는 한 기사를 두 개 이상의 카테고리로 분류할 수 있습니다.
언론사는 한 기사를 두 개 이상의 카테고리로 분류할 수 있습니다.
