Last updated: 16:2 - April 19, 2006
US group to build $550 million theme park in Vietnam http://www.nhandan.com.vn/english/culture/190406/culture_us.htm
A US group is seeking a license to build a US $550 million Disney-style entertainment complex in the southern Vietnamese resort city of Vung Tau.
Platinum Dragon Empire Inc. had submitted a proposal to Ba Ria-Vung Tau province authorities, Hanh Duong, president of a subsidiary firm.
The province had agreed to reserve a large area of land for lease for the purpose, he added.
The US company plans to build a $300 million, 200-hectare entertainment complex themed "Wonderful World", and a $250 million underwater world.
The group expects to complete the mammoth project in two and a half years.
The province People's Committee recently issued a license to another US company, Winvest Investment LLC group, for the Saigon Atlantis Hotel at an estimated $300 million.
(Thanh Nien newspaper)
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