JavaScript is off. Please enable to view full site.

Sand mine on southern Vietnamese river sold at nearly $122 million

Saturday, April 10, 2021, 14:42 GMT+7
Sand mine on southern Vietnamese river sold at nearly $122 million
Sand carrying barges operate on the Tien River. Photo: Buu Dau / Tuoi Tre

An auction has raised numerous questions among the public as a Ho Chi Minh City-based enterprise has won the right to exploit a sand mine on the Tien River after offering a purchase price of approximate VND2,812 billion (US$122 million), the auctioneer reported on Friday.

This winning price is around 390 times higher than the starting price of VND7.2 billion ($312,000) set at the bidding, which was participated by 19 enterprises, said the property auction center under the Department of Justice of An Giang.

The winner is T-S. Home Trading and Services Company Limited, located in District 7, Ho Chi Minh City, Zing News reported.

The mine is among the three ones put up for sale a few days ago, said the department, adding that the two other mines are located on the Hau River.

Under the Law on Auction, the People’s Committee of An Giang Province will in a few days issue a decision to confirm the auction results reported by the provincial Department of Natural Resources and Environment, said the leader of the auction center.

“Within 90 days after the date of the decision, the winner must pay VND50 billion to the State budget,” the center leader said, adding that the remaining amount will be paid by annual installments later, provided that the full payment must be completed within the first half of the term of exploitation. 

The sand mine, which is located on the Tien River section in Binh Phuoc Xuan Commune of Cho Moi District, has an estimated reverse of about three million cubic meters of sand, said Tran Thanh Hai, chief office of the provincial Department of Natural Resources and Environment.

“This is the first time such a excessively high price has been offered for an auction for sand mine exploitation right in An Giang,” Hai said.

Like us on Facebook or follow us on Twitter to get the latest news about Vietnam!

Vinh Tho / Tuoi Tre News


Read more




Vietnam’s Mekong Delta celebrates spring with ‘hat boi’ performances

The art form is so popular that it attracts people from all ages in the Mekong Delta

Vietnamese youngster travels back in time with clay miniatures

Each work is a scene caught by Dung and kept in his memories through his journeys across Vietnam

Experience summer sand-boarding in Mui Ne

Sand-boarding, a popular activity amongst local children in the coastal tourism town of Mui Ne in south-central Vietnam, is attracting hundreds of tourists to the Red Sand Dunes

Young maple trees given better protection as Hanoi enters rainy season

The trees are currently growing well, with green leaves and healthy branches.

Hunting skinks for food in southern Vietnam

Skink meat is known to be soft, tasty, and highly nutritious.

Latest news

Vietnamese women protect lush forests

Seven members of the Lam Vien Forest Management Board’s staff and officers are female, including two accounting and administrative staff members and five female staffers directly involved in forest management and protection.