The People’s Committee of central Nghe An province has approved a joint venture between Lapinta JSC and the Vietnam Construction and Import-Export JSC (Vinaconex) to build a commercial and social housing project in Cua Lo town.

The project will cover 13.1 ha in Nghi Thu ward.

Total investment capital is estimated at VND510 billion ($19.8 million).

Construction is expected to take five years since land is handed over to the investor.

In March, the provincial authorities also gave the green light to the investment policy for a project to build an urban area in Vinh city. It covers over 103.6 ha in Nghi Lien commune.

The provincial Department of Planning and Investment has recently called for investors to build a housing project in Nghi Huong ward, Cua Lo town, with an estimated investment capital of nearly VND440 billion ($17.1 million).