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$9mn ethanol plant deserted in northern Vietnam

$9mn ethanol plant deserted in northern Vietnam

Sunday, July 01, 2018, 18:14 GMT+7

An ethanol plant project worth more than VND2.4 trillion (US$9 million) in the northern Vietnamese province of Phu Tho is now an abandoned site, nearly a decade after the construction was initiated.

The construction of the Ethanol Phu Tho Factory began in June 2009 on a 50-hectare area in the namesake province, designed for the production of material for biofuel.

It was expected to be put into operation in 2012.

The original investment was VND1.7 trillion ($75 million) but was later raised to VND2.4 trillion ($9 million).

 

According to the recent observation of Tuoi Tre (Youth) newspaper reporters, multiple facilities of the plant were left unfinished, while many other parts have become rusted.

Grass has grown quite high in several areas within the construction site.

Local residents said the last time they saw workers in the construction site was a few years ago.

 

The Ministry of Public Security on Friday arrested and began legal proceedings against Vu Thanh Ha, former director of PVB, a petrochemical firm under state-run oil and gas group PetroVietnam, which is the developer of the Ethanol Phu Tho Factory.

Ha was charged for his violations of regulations on investment into construction works, causing serious consequences, which were committed during the implementation of the project.

 

Reports from officers showed that PVB had selected inexperienced and incompetent contractors for the project.

As of April, PVB had borrowed VND772 billion ($34 million) from local banks to spend on the factory, with interest rates reaching VND600 billion ($26.4 million).

 
 
 
 
 
 

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Duy Khang / Tuoi Tre News

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