Vietnam : Thanh Cong Textile Co to build 12-storey tower

Thanh Cong Textile and Garment joint stock company recently inked a deal to build a 12 storey tower in Ho Chi Minh City (HCMC) in a bid to diversify its business as well as develop income. Thanh Cong together with Tan Hoang Thang Company will invest VND 450 billion or US $28 million for this venture. HCMC-based company plans to start construction in October 2007 and expects to officially start operations in about 20 months.