Seaport investors more than 14,000 billion lack of capital

QUANG TRI Approved for 3 years, but My Thuy port, the project is estimated at 14,234 billion VND, still cannot be built when the investor has only 42 billion VND of equity.

In a document sent to the Ministry of Planning and Investment on October 7, Quang Tri province mentioned difficulties when building My Thuy seaport, a driving force project in the Southeast Economic Zone.

The land area expected to build a seaport project is 14,234 billion VND. Photo: Quang Ha

The project was approved by the Prime Minister in January 2019, including 10 ports, invested in 3 phases from 2018 to 2036, with a total investment of 14,234 billion VND. My Thuy International Port Joint Stock Company (MTIP) is the investor.

The project started on February 27, 2020, but so far, MTIP has not completed any investment preparation procedures such as basic design, detailed planning, environmental impact assessment report, etc. No deposit for investment, compensation, support and resettlement work for site clearance has not been completed, land has not been rented...

Quang Tri province said that there have been many meetings, reminding MTIP to urgently complete the procedures. But as of December 31, 2020, the equity of MTIP does not guarantee the condition that it is not less than 15% of the total investment.

The Tax Department of Quang Tri province said that the MTIP's 2020 financial statements show the equity value as of December 31, 2020 at VND 42.6 billion. Compared to the total investment capital of the project is 14,234 billion VND, accounting for 0.3%; compared to the total investment capital in phase 1 is 4,946 billion dong, accounting for 0.86%.

Quang Tri confirmed that MTIP is facing financial difficulties and is unable to implement the project as an independent investor. This investor is calling for partners to invest in joint ventures or cooperate by dividing and splitting projects into independent projects.

Therefore, Quang Tri province requested the Ministry of Planning and Investment to guide the handling plan as well as support additional procedures for investors if there are units participating in cooperation with investment joint ventures in accordance with the Law on Investment. private.

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