The Rusalka resort project has gone into liquidation under a new Government decision.

The process is set to be carried out by several major Russian companies including Elaitrox, Luzhniky and CARGO, according to a representative of the three companies. Khanh Hoa provincial People’s Committee will grant the certificate for new investors and continue to construct Rusalka as a new project.

The Rusalka project, known as “Mermaid”, covers 43.5 ha in Vinh Hoa Ward, and was licensed for investment in 2000, when it was one of the three biggest tourism projects./.