New Deal A Winner

Newcastle Herald

Thursday September 26, 2002

HANOI: Vietnam's government has allowed an Australian consortium to replace a French company in the building a horseracing track in Hanoi after problems delayed the venture by more than three years, an executive said yesterday.

Australian Club Development Pty Ltd will contribute 70% of the $105million project, while two Vietnamese partners will contribute the remainder in the form of 40ha of land in Thanh Tri district outside Hanoi.

The track will include a 30,000-seat stadium and take three to four years to complete. Vietnam's government prohibits most forms of gambling.

© 2002 Newcastle Herald

Back to News Index | Back to Home