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

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.

VietnamEnergy.vn