Construction of $114 million tower in Hanoi to resume
Vicem office and transaction tower in capital has been postponed for many years.
The Ministry of Construction has proposed that the Prime Minister permit the Vietnam Cement Industrial Corporation (Vicem) to resume work on a project building an office and transaction center in Hanoi’s Cau Giay district that has been idle for years.
Construction began in 2010 with estimated investment of over VND2.7 trillion ($114 million) and was to take three years.
It was then delayed.
In August 2016, Vicem was permitted to transfer the project in 2017 but the process met legal difficulties and obstacles.
The project has not moved forward since. The company therefore sought the Prime Minister’s permission to resume construction.
