PetroVietnam unit seeks partners for $1bn tower project

PetroVietnam Construction Joint Stock Corp., a unit of Vietnam Oil & Gas Group, plans to seek foreign partners for a skyscraper in Hanoi that may cost about $1 billion to build. “We are inviting foreign partners capable of building a high-rise tower,” Nguyen Ngoc Duc, vice manager of the project and investment division at PetroVietnam Construction, said in a telephone interview. “The partners need to have the technology to build this 102-storey tower.”

The project is at a “very primary stage,” Duc said. PetroVietnam Construction signed a cooperation agreement with Ocean Group Joint-Stock Co., a Vietnamese real-estate and financial company, about the project, Duc said, without giving further details.