Provincial authorities also permitted Sai Gon-Mang Den Co to pump roughly VND110bil (US$6.8mil) into constructing 40 villas with 250 rooms reaching three-star standards on a total area of 5.6ha at the eco-tourism zone. It is expected that the villas will be completed and put into operation next year.

Another project to build a trading centre and residential area on a 16ha area is slated to finish in 2011, costing the firm some VND230bil ($14.4mil).

The province has also allowed the enterprise to construct a 36-hole golf course, a five-star hotel and a high-class resort on a combined area of 124ha, with total investment capital for the first stage estimated at $30mil.

The company also completed the first stage of a project to build a small zoo and embellish the 100m-high Pasi Waterfall. The zoo is located on a 50ha pine forest.

In addition, Mang Den Co has created a joint venture with the American Green Light Company, with a charter capital of $2mil, for a trial planting of Jatropha trees.

They will be planted on an area of 200ha this year and used for oil-extraction, taken to a biodiesel processing factory in Kon Tum Province.

Originating in the Americas, Jatropha trees are drought resistant, grow easily in limited soil and yield good crops. They are ideal for oil extraction, biodiesel processing and fertilisers.

(Source: Viet Nam News)