Warning LandVille on the progress of Renewable Energy Project in Ninh Thuan Province

Warning LandVille on the progress of Renewable Energy Project in Ninh Thuan Province - 

Vice President of Ninh Thuan Provicial People's Committee (PPC) Tran Xuan Hoa signed a paper to recall LandVille Energy Corporation (Korea) to the delay of implementing procedures for investing wind power  project in accordance with PPC approvement.

In the paper, Ninh Thuan PPC rised that, according to agreement of the sides, LandVille must complete the document applied for project investment and add planning project folowing the Investment Law, within the six mounths However, LandVille has not yet completed the above mentioned things, so far, this is a delay to the request of Ninh Thuan PPC and the decision on project investment could be canceled.

Ninh Thuan PPC required the investor to have documentation on the progress and the amount of the work for each itemaof the project in detail, to commit implementing well the planed progress and to guarantee to put the project into operation at least in the first quarter of 2016. Besides, Ninh Thuan PPC also required LandVille to leave money as investment deposit when handing in the investment registering documents

Ninh Thuan PPC warned : In overdue case, If LandVille has not yet completed all these works it will be considered as no investment demand, PPC will cancel the decision for the project investment. The investor will bear the full responsibility for his act and all the costs expending in the process of research, survey and documentation of the project.

LandVille Viet Nam is a subsidiary of LandVille Inc. Group (Korea). In December, 2011, this company committed to invest in a hybrid project of wind power and solar PV in Ninh Thuan, with total investment capital of about $500 million.

Late in February, 2014, LandVille sent a paper to Ninh Thuan PPC to ask for extending term of project planning supplementation and registering procedure implementation. However, Ninh Thuan PPC still insisted to require LandVille to to do all the things mentioned above as well as possible with the latest deadline ultil June, 2014.

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