Welcome!

News Feed Item

Vung Ro Petroleum and Rose Rock Group Sign Cooperation Agreement on US $2.5 Billion Development in Vung Ro Bay, Vietnam

HONG KONG, CHINA -- (Marketwired) -- 01/14/14 -- Vung Ro Petroleum, an independent petroleum company based in Vietnam, and Rose Rock Group, boutique alternatives investment management and real estate development firm founded by members of the Rockefeller family, have entered into an agreement to cooperate on the development of a resort community in Vung Ro Bay, on the south central coast of Vietnam.

Vung Ro Bay is ideally located in Phu Yen province, with direct links to Tuy Hoa and its airport, making it a convenient location for both business and tourist visitors, as well as permanent residents. Based on the current Masterplan, Vung Ro Bay will be developed into three parts to include The Marina, The Village and Bai Mon beach, which will all be connected by The Green Thread, a 2.5 kilometer pedestrian path.

With its natural deep water and sheltered bay, The Marina is the gateway to Vung Ro. This will be a key destination comprising 350 marina berths, a waterfront hotel and retail space for shops, bars and restaurants along the corniche. The Village is centrally located in the development and will provide the majority of the residential accommodation. In addition, there will be a 650 meter retail street to support the community. Bai Mon, with its extensive and deep flat sandy beach, will comprise a lively beach resort with a variety of watersports available and a more exclusive boutique hotel along its 400-meter sandy beach.

The entire Vung Ro Bay development will emphasize sustainable development and focus on creating an extraordinary thriving ecology of education, healthy living, lifestyle and culture. The enclave will comprise several hotels with over 760 rooms, 4,300 apartments, 100 luxury townhouses, a variety of retail shops and 350 marina berths. The gross commercial area will total approximately 200,000 square meters, providing space for schools, healthcare facilities, retailing and entertainment complexes. Already garnering industry support, the Vung Ro Bay Masterplan won the Silver award at MIPIM in November 2013.

Kirill Korolev, CEO & General Director, at Vung Ro Petroleum said, "We are extremely excited to be embarking on this mega project and very pleased to be working with Rose Rock Group, a strong and reliable partner who will help us to ensure the success of this development. Our plan is to create a vibrant community for Vung Ro around the area's natural beauty and provide a world class destination for discerning residents and visitors."

Collin Eckles, President, at Rose Rock Group said, "We are delighted to be working with Vung Ro Petroleum on the Vung Ro Bay development project and we look forward to making this development an outstanding and preferred destination in the Asia Pacific region for visitors and a lifestyle choice for residents. We look forward to bringing unique and differentiating occupiers to the project from our global network to provide compelling value enhancing content to Vietnam."

Kirill Korolev says, "Vietnam is rapidly evolving as a unique destination for investment, residence and tourism. We see this as a country of dynamic and diverse investment opportunity, with an economy that is growing at among the highest rates in the world. Its strong fundamentals and favorable demographics make this an attractive investment destination for many people."

For photos with high-resolution, please visit ftp://VRPExt:[email protected].

Company Logo
Vung Ro Petroleum http://release.media-outreach.com/release.php/Images/1474
Rose Rock Group http://release.media-outreach.com/release.php/Images/1475

About Vung Ro Petroleum
Vung Ro Petroleum Company Limited ('VRP') is an independent petroleum company based in Vietnam with plans to offer the highest global standards of petroleum and petrochemical products. Backed by Technostar Management Limited Company, VRP is an industry partner of leading global oil companies and is headed by an international team of experts.

VRP is investing more than US$4 billion to develop an oil refinery, petrochemical plant, and seaport in Phu Yen province on Vietnam's south central coast, with construction beginning in Q2 2014. The projects are located in the Hoa Tam Industrial Zone, a special economic zone in which VRP is the driving force of industrial development with stringent environmental practices. The refinery is well-positioned to meet high demand growth for high quality fuel and petrochemical products in Vietnam and the wider region, and acts as a strategic base for business expansion within the region.

The first fully private company in Vietnam's petroleum sector, VRP has enjoyed support from the Vietnamese Government since its launch in 2004 when the Ministry of Planning and Investment referred to it as a major priority for national economic and social development. In 2008, VRP's role in providing future domestic energy security for Vietnam was recognised by the Ministry of Industry and Trade. VRP's projects will boost Vietnam's economic growth trajectory through export opportunities, foreign direct investment, the creation of jobs, and the development of infrastructure.

About Rose Rock Group
Rose Rock Group is a boutique alternatives investment management and real estate development firm firm founded by members of the Rockefeller family. Our brand is synonymous with leadership, philanthropy, prosperity and influence.

Our company honors the Rockefeller legacy by advising, consulting to and partnering with developers of properties of scale and permanence. Rose Rock specializes in large-scale real estate, healthcare, arts & culture and luxury initiatives that leverage our expansive international network of relationships. The group enhances economic value by creating destinations of cultural and societal significance.

More than just bricks and mortar, Rockefeller buildings are the foundation under which great cities have thrived, and today they are destinations of important cultural and societal significance. We make a concerted effort to partner with organizations that share our passion for excellence.

The group is currently involved in a portfolio of developments in China. With over forty team members in five offices across the northern hemisphere, Rose Rock's mission is to promote and create sustainable economic growth by cementing relationships at the highest levels of government and business.

Contacts:
Citigate Dewe Rogerson
Charlotte Bilney
Co-Managing Director
Tel +852 3103 0103 / 9314 3463

Eller Kwong
Consultant
Tel +852 3103 0118 / 9326 2409

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
In his session at 21st Cloud Expo, Raju Shreewastava, founder of Big Data Trunk, will provide a fun and simple way to introduce Machine Leaning to anyone and everyone. Together we will solve a machine learning problem and find an easy way to be able to do machine learning without even coding. Raju Shreewastava is the founder of Big Data Trunk (www.BigDataTrunk.com), a Big Data Training and consulting firm with offices in the United States. He previously led the data warehouse/business intellige...
SYS-CON Events announced today that IBM has been named “Diamond Sponsor” of SYS-CON's 21st Cloud Expo, which will take place on October 31 through November 2nd 2017 at the Santa Clara Convention Center in Santa Clara, California.
SYS-CON Events announced today that TidalScale, a leading provider of systems and services, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. TidalScale has been involved in shaping the computing landscape. They've designed, developed and deployed some of the most important and successful systems and services in the history of the computing industry - internet, Ethernet, operating s...
Infoblox delivers Actionable Network Intelligence to enterprise, government, and service provider customers around the world. They are the industry leader in DNS, DHCP, and IP address management, the category known as DDI. We empower thousands of organizations to control and secure their networks from the core-enabling them to increase efficiency and visibility, improve customer service, and meet compliance requirements.
In his session at 21st Cloud Expo, Michael Burley, a Senior Business Development Executive in IT Services at NetApp, will describe how NetApp designed a three-year program of work to migrate 25PB of a major telco's enterprise data to a new STaaS platform, and then secured a long-term contract to manage and operate the platform. This significant program blended the best of NetApp’s solutions and services capabilities to enable this telco’s successful adoption of private cloud storage and launchi...
SYS-CON Events announced today that IBM has been named “Diamond Sponsor” of SYS-CON's 21st Cloud Expo, which will take place on October 31 through November 2nd 2017 at the Santa Clara Convention Center in Santa Clara, California.
Data scientists must access high-performance computing resources across a wide-area network. To achieve cloud-based HPC visualization, researchers must transfer datasets and visualization results efficiently. HPC clusters now compute GPU-accelerated visualization in the cloud cluster. To efficiently display results remotely, a high-performance, low-latency protocol transfers the display from the cluster to a remote desktop. Further, tools to easily mount remote datasets and efficiently transfer...
Cloud Expo, Inc. has announced today that Andi Mann and Aruna Ravichandran have been named Co-Chairs of @DevOpsSummit at Cloud Expo Silicon Valley which will take place Oct. 31-Nov. 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. "DevOps is at the intersection of technology and business-optimizing tools, organizations and processes to bring measurable improvements in productivity and profitability," said Aruna Ravichandran, vice president, DevOps product and solutions marketing...
Join IBM November 1 at 21st Cloud Expo at the Santa Clara Convention Center in Santa Clara, CA, and learn how IBM Watson can bring cognitive services and AI to intelligent, unmanned systems. Cognitive analysis impacts today’s systems with unparalleled ability that were previously available only to manned, back-end operations. Thanks to cloud processing, IBM Watson can bring cognitive services and AI to intelligent, unmanned systems. Imagine a robot vacuum that becomes your personal assistant tha...
In his Opening Keynote at 21st Cloud Expo, John Considine, General Manager of IBM Cloud Infrastructure, will lead you through the exciting evolution of the cloud. He'll look at this major disruption from the perspective of technology, business models, and what this means for enterprises of all sizes. John Considine is General Manager of Cloud Infrastructure Services at IBM. In that role he is responsible for leading IBM’s public cloud infrastructure including strategy, development, and offering ...
In a recent survey, Sumo Logic surveyed 1,500 customers who employ cloud services such as Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform (GCP). According to the survey, a quarter of the respondents have already deployed Docker containers and nearly as many (23 percent) are employing the AWS Lambda serverless computing framework. It’s clear: serverless is here to stay. The adoption does come with some needed changes, within both application development and operations. Tha...
SYS-CON Events announced today that Avere Systems, a leading provider of enterprise storage for the hybrid cloud, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Avere delivers a more modern architectural approach to storage that doesn't require the overprovisioning of storage capacity to achieve performance, overspending on expensive storage media for inactive data or the overbui...
Widespread fragmentation is stalling the growth of the IIoT and making it difficult for partners to work together. The number of software platforms, apps, hardware and connectivity standards is creating paralysis among businesses that are afraid of being locked into a solution. EdgeX Foundry is unifying the community around a common IoT edge framework and an ecosystem of interoperable components.
In his general session at 21st Cloud Expo, Greg Dumas, Calligo’s Vice President and G.M. of US operations, will go over the new Global Data Protection Regulation and how Calligo can help business stay compliant in digitally globalized world. Greg Dumas is Calligo's Vice President and G.M. of US operations. Calligo is an established service provider that provides an innovative platform for trusted cloud solutions. Calligo’s customers are typically most concerned about GDPR compliance, applicatio...
SYS-CON Events announced today that N3N will exhibit at SYS-CON's @ThingsExpo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. N3N’s solutions increase the effectiveness of operations and control centers, increase the value of IoT investments, and facilitate real-time operational decision making. N3N enables operations teams with a four dimensional digital “big board” that consolidates real-time live video feeds alongside IoT sensor data a...