VTV says to privately fund television tower

Vietnam Television (VTV) said it will pay for a landmark 636-metre television tower, planned to be the tallest in the world, through private capital sources, rather than seek state budget assistance for the project, a VTV official said.

Vietnam Television (VTV) said it will pay for a landmark 636-metre television tower, planned to be the tallest in the world, through private capital sources, rather than seek state budget assistance for the project, a VTV official said.

 

Tokyo Sky Tree, 636m

Deputy General Director Nguyen Thanh Luong said a joint stock company will be set up by VTV, State Corporation Investment Company (SCIC) and BRG Group to tap capital from individuals and organisations inside and outside the country to carry out the project.

Earlier, speaking to DTiNews, Minister and Head of Government Office Nguyen Van Nen said VTV and its partners have considered foreign loans, adding that the governmetn will not interfere in mobilising capital.

Luong said Japan’s Nikken Sekkei Ltd, a senior firm in consulting in television tower construcion, has been selected as the consultant for VTV’s tower project.

He said the tower will be a symbol of Vietnam’s dynamic development and expected it to bring benefits for other services.

“The tower will become an attractive tourist destination, contributing to economic development. It will also play a role in receiving and transmitting TV waves and will be of significance in terms of security and defense”, Luong said.

Total investment of the project is expected to top USD600m, with a six-year construction timeline, and capital recovery expected to be 15 years.

“This is a large-scale project, impacting the national socio-economic situation," Luong said. "VTV will closely conform to legal regulations, seeking opinions from the public and experts."