A deluxe entertainment and sea eco-tourism resort project has got an investment licence from the management board of the Van Phong economic zone in southern coastal Khanh Hoa province.

The 230 million USD project, the largest of its kind in the Van Phong economic zone, will cover more than 295 ha of land and over 160 ha of water surface and will operate for 50 years.

The Hon Ngang-Bai Tham project will be divided in three stages. Under the first phase from 2008-2010 with an investment capital of 580 billion VND, the Van Phong T & M Tourism and Investment Joint Stock Company will build world-class hotels by the sea and resorts on the mountain in addition to the construction of other supporting facilities and wharves.

In the 2010-2015 period, four resorts with 500 rooms and the Hon Ngang entertainment resort will be built at a cost of 1.2 trillion VND.

Under the third phase that will last through 2018, the company will build an additional four hotel and tourism resorts with 1,200 rooms.

The project is expected to be operational by 2010.

(Source: VNA)