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N. Korea resumes construction of luxury hotel

All Headlines 17:13 May 19, 2008

SHENYANG, China, May 19 (Yonhap) -- North Korea resumed the construction of a highrise hotel building in Pyongyang last month, which was suspended for nearly 20 years due to funding problems, informed sources here said Monday.

The construction of the luxury Ryugyong Hotel began in 1987 with French capital and technology for completion in 1992. The 105-story building has long been left uncompleted since early 1990s amid North Korea's chronic economic problems.

"North Korean authorities restarted the construction of Ryugyong Hotel in April," the sources said, quoting those who recently returned from trips to Pyongyang.

Orascom Telecom Holding of Egypt is North Korea's partner for the construction, the sources said. "If completed, the hotel will be used as an accommodation for foreign investors and visitors, a business center and an international convention center among others," a source said.

The 330-meter hotel is expected to be the world's tallest when completed.
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