Tan Tao Investment and Industry Joint Stock Company (HoSE: ITA) recently announced that it has received the Decision approving the adjustment of investment policy from Long An province.
Accordingly, the People's Committee of Long An province has approved the adjustment of the investment policy to implement the E.City Tan Duc Urban Service - Trade - Entertainment - Film Studio - School - Hospital and Residential Center Project, with an area of about 165.9 hectares in Duc Hoa Ha commune and Huu Thanh commune, Duc Hoa district, invested by Tan Tao.
Regarding project implementation progress, after adjustment, within 12 months (from the date of approval of investment policy adjustment), Tan Tao must complete compensation, site clearance, land procedures, and technical infrastructure investment for the entire project.
The project progress before adjustment determined that from 2009-2015, compensation, leveling and construction would be carried out to complete the entire technical infrastructure of the entire area; in 2012, it would be put into operation.
Within 12 months from the date of approval of the investment policy adjustment, Tan Tao must complete compensation, site clearance, land procedures, and technical infrastructure investment for the entire project.
Regarding the reason for the adjustment, the Long An Provincial People's Committee said that, up to now, Tan Tao has paid 100% compensation; the Provincial People's Committee has approved the detailed planning 1/500; has been assigned land to implement functional areas, and is currently waiting for the competent authority to determine the financial obligations for the investor to perform.
The project's slow progress is due to problems and difficulties in compensation and site clearance (there are still 03 households complaining, the site has not been handed over), land procedures, and the implementation of financial obligations of the project. The Inspectorate of the Department of Planning and Investment has issued Decision No. 323/QD-XPVPHC dated June 28, 2022 on administrative sanctions for violations in the field of planning and investment (slow progress and incomplete investment reports). The investor has paid the fine.
At the same time, Long An province also approved the adjustment of investor information to update information in accordance with the Business Registration Certificate with enterprise code 0302670307 issued by the Business Registration Office under the Department of Planning and Investment of Ho Chi Minh City, first registered on July 15, 2002, changed for the 24th time on June 8, 2023.
Accordingly, the investor information after adjustment announced by the People's Committee of Long An province is Tan Tao Investment and Industry Joint Stock Company, Business Registration Certificate with enterprise code 0302670307 issued by the Business Registration Office under the Department of Planning and Investment of Ho Chi Minh City, first registered on July 15, 2002, 24th change on June 8, 2023. Head office address: Lot 16, Road 2, Tan Tao Industrial Park, Tan Tao A Ward, Binh Tan District, Ho Chi Minh City, Vietnam .
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