Can Tho revokes IDI's 2,400 billion VND urban planning license

Can Tho City People's Committee has just issued Decision No. 2031 on revoking Planning License No. 42 dated March 22, 2018 issued to IDI Multinational Investment and Development Joint Stock Company (HoSE: IDI).

Specifically, IDI is the investor of the Sao Mai new urban area project with a total investment capital of nearly VND 2,500 billion in Vinh Thanh district, Can Tho city; at the same time, this enterprise is also a subsidiary of Sao Mai Group (HoSE: ASM).

The new urban area project in Thoi Thuan ward has the commercial name Sao Mai Thot Not new urban area, located in Thoi Thuan ward, Thot Not district, Vinh Trinh commune, Vinh Thanh district, Can Tho city. The project has an area of ​​181.87 hectares, of which the newly planned construction area is 146 hectares and the existing residential area is renovated to 35.87 hectares.

As previously planned, the project was divided into two investment phases. Of which, the investment capital for phase 1 was over 1,300 billion VND and for phase 2 it was nearly 1,160 billion VND.

Accordingly, phase 1 has a total area of ​​102.52 hectares, including 18.75 hectares of land to retain the current state of renovation and 83.77 hectares of land to build a new urban area.

As for phase 2, the total area of ​​this phase is 79.35 hectares, including 17.12 hectares of land to retain the current status of renovation and 62.2 hectares of land to build a new urban area. The project is expected to be implemented in 5 years, from 2020 - 2024.

Can Tho revokes IDI's 2,400 billion VND urban planning license.

According to Sao Mai's 2022 Annual Report, the information provided by the enterprise is that the project has had its planning project approved, a measurement contract signed with the Center for Technical Resources and Environment, the EIA has been approved and the company is completing the technical infrastructure design appraisal documents as well as requesting the Department of Transport to support the agreement on the traffic connection boundary plan.

However, up to now, the People's Committee of Can Tho City has revoked the planning license for this project because the People's Committee of the city previously issued Decision 1753 on August 1, 2023 on revoking Decision 3131 dated October 23, 2015 of the People's Committee of the city on assigning IDI as the investor of this new urban area .

Source: https://www.nguoiduatin.vn/can-tho-thu-hoi-giay-phep-quy-hoach-kdt-2400-ty-dong-cua-idi-a625536.html