An ambitious project to build the world's tallest broadcasting tower in Hanoi is likely to cost public broadcaster Vietnam Television and its partners US$900 million, according to media reports Wednesday.
The tower would be 636 meters high, slightly taller than Japan's Tokyo Skytree, which currently holds the world record at 634 meters, news website Phap Luat said, citing an unnamed source.
Another $400-500 million would be spent on hotels, apartment and office buildings, and entertainment venues around the tower in a new urban center in the west of Hanoi.
Vietnam Television and its partners, the country’s sovereign fund SCIC and private golf course developer BRG Group, have been in talks with foreign and local banks for loans for the project.
They also plan to seek tax breaks and other support for their joint-venture.
The broadcaster, which is reportedly working on selling most of its stakes in three big cable TV providers -- VTVcab, SCTV and K+ -- will fund the project with the sale proceeds.