The People's Committee of Khanh Hoa Province works with representatives of FLC Group in June. The province gives approval for the firm to construct a new central administrative area worth VND7 trillion (over US$ 333 million). — VNS Photo

KHANH HOA (Biz Hub) — Real estate group FLC will construct a new central administrative area for the central province of Khanh Hoa with a total investment of VND7 trillion or more than US$333 million.

The project will be built under the build-transfer (BT) form.

It received the approval of the province's People's Committee recently. FLC will have to deposit a minimum of VND100 billion or more than $4.7 million to the account of Khanh Hoa's Department of Finance or to its account opened at a commercial bank in the province. The group is also required to have financial resources to compensate for land clearance.

The construction will be the biggest BT project carried out in Khanh Hoa so far.

Earlier in May, the FLC group started constructing an international golf course and resort in the central province of Thanh Hoa. — VNS