The Cables and Telecommunications Material Joint-Stock Company (Sacom) has replaced a Korean firm as contractor for a US$124-million resort complex including a golf course near Da Lat.
The Lam Dong province administration said the resort, 18 km from the central highlands resort town, would have a 36-hole golf course, 250 luxury villas, a five-star hotel, and a leisure area.
It has given Sacom one year to complete investment formalities after which another contractor would be chosen.
The Republic of Korea’s K’Gim company was the original partner in the project but the province scrapped the deal because K’Gim was slow to work on the formalities.
Sacom, based in Dong Nai province near Ho Chi Minh City, was the second firm to list on the country’s stock market when it was manufacturing electrical and telecom cables a few years ago.
Now it has diversified into real estate and telecom services.
Source: Thanh Nien
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