MoC proposes salvaging seven social housing projects

Tuesday, Dec 23, 2014 14:38

Flats for low-income earners in Viet Hung residential area in Ha Noi's Gia Lam District. The Construction Ministry urges the Government to grant favourable loans to seven social housing project across the country. – Photo Tienphong
HA NOI (Biz Hub) – The Ministry of Construction (MoC) has made a proposal to the State Bank of Vietnam (SBV) to grant financial support to seven social housing projects across the country.

These projects are scheduled to provide a total of 2,700 flats between 2015 and 2017.

The proposal indicates that the project to receive the most financial support should be the one in Tac Cau fish port in the southern province of Kien Giang's Chau Thanh District. This project aims to build 1,000 flats on an area of more than 7.5ha and will be implemented by Nghi Xuan Construction, Trade and Tourism Company. The project is estimated to cost VND465 billion ($21.8 million). The MoC suggested that SBV grant a loan of VND100 billion ($4.7million) to the project to guarantee the achievement of its scheduled completion by 2017.

The second prioritised project is the one for the workers of Giao Long Industrial Zone in Chau Thanh District in Ben Tre Province. For this project, the MoC has suggested a loan of VND50 billion ($2.3 million). The VND146 billion ($6.8 million)-project is scheduled for completion by 2016. It covers an area of 1.5ha, which will provide 396 flats. It is currently being implemented by Ben Tre House Construction and Trade and ATC companies.

Another project, proposed by the MoC to receive a VND50 billion loan package, is located in the northern province of Vinh Phuc's Vinh Yen City. This covers an area of 4.4ha, which will offer 745 flats for low-income people and workers. The project is worth VND432 billion ($20.3 million).

In the southern province of Dong Nai's Cam My District, a social housing project with an investment of VND114 billion ($5.3 million) is designed to provide 252 flats on an area of 2ha. The MoC suggests granting a loan of VND30 billion ($1.4million) for this project.

Loans of VND15–25 billion ($700,000 –1.17 million) each have been proposed for three other social housing projects as well. – VNS

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