Enormous Dragon Statue in Hue Made Headlines in the US for Being Too Terrifying, Now Faces Demolition: A Company Spent 70 Billion VND to Build It, Then Sold it Off, the New Owner Planned to Invest 270 Billion VND for Renovation but Failed.

The auctioning unit requests an extension of time as the water level in the lake is currently high, making it difficult to remove the dragon statue. The removal is scheduled to take place after the Lunar New Year when the water level is expected to decrease.

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According to information from Dai Nguyen Nam Trading and Service Co., Ltd., the company that won the auction of assets at Thuy Tien Lake Amusement Park (Thuy Bang commune, Hue City), a 20m tall, 50m long dragon statue at Thuy Tien Lake, Hue City will be demolished to renovate the park after years of abandonment.

According to Dan Tri, in recent days, workers of Dai Nguyen Nam Trading and Service Co., Ltd. have been dismantling assets and construction items at the park.

Many items along the lake shores and park areas have been completely dismantled. Many rolls of iron and steel, after being dismantled, have been collected in the entrance area of the park. However, there have been no signs of demolition for the dragon statue located in the middle of the lake.

Tearable goods removed. – Source: Dan Tri

More than 70 billion VND investment capital

According to research, the Thuy Tien Amusement Park was originally invested by Hue Imperial City Travel Company, commencing construction in 2000 and completed by June 2004, with a total investment capital of over 70 billion VND.

In 2004, the park was put into operation in an effort to serve tourists for only about half a year, and has been abandoned ever since. As a result, the park has fallen into a state of abandonment, with deteriorating infrastructure.

There is not much information about Hue Imperial City Travel Company, but with this project, the investor has built an aquarium tourist area, a diverse and abundant ecosystem ranging from colorful fish species to rare reptiles, a water music stage with a seating capacity of 2,500, a system of 20 high-class bedrooms situated on the hillsides.

However, due to incomplete investment, the project has operated inefficiently and has been unable to attract tourists. In 2008, Hue Imperial City Travel Company transferred the project to Haco Hue Co., Ltd.

Still stagnant under new ownership, many items are covered with moss, withered grass and are being sold

It is known that Haco Hue Co., Ltd. officially started operating from January 2009, with the main business activity being entertainment activities. The legal representative of the company is Mr. Dang Manh Thang. He is also the legal representative of other companies such as Haco Equipment Trading and Manufacturing Co., Ltd., ANTK Phu Quoc Joint Stock Company.

After receiving Thuy Tien Park, Haco Hue Co., Ltd. redesigned the project with a total estimated investment capital of 270 billion VND.

By October 2014, this tourist area was approved as a high-class ecological tourism zone, including a conference center, spa services, restaurants, resort accommodations, performing arts, sports, entertainment, and outdoor camping over an area of ​​63.38 hectares.

However, later on, Haco Hue Co., Ltd. stated that they were not capable of implementing the project and requested the province to call for other investors to invest in the project and consider reimbursing the costs already spent on construction here.

In early 2016, Thuy Tien Water Park suddenly became famous worldwide when the HuffingtonPost of the United States published an article titled: “Abandoned Water Park Not Suitable for Faint-hearted People.” This newspaper called it “Hell on Earth” to describe the images inside Thuy Tien Water Park. Many tourists, especially foreigners visiting Hue, have come here to check-in due to curiosity about the creepy and terrifying nature of this park.

Reclaiming the project, renovation into a park to serve the people

In 2017, the People’s Committee of Thua Thien Hue province made a decision to revoke the land of the Thuy Tien Amusement Park project and handed it over to the Department of Natural Resources and Environment of Thua Thien Hue province for management.

By 2020, according to Tuoi Tre, the People’s Committee of Thua Thien Hue province stated that it is transferring to the Department of Finance the establishment of a council to reassess the assets and prepare necessary procedures to attract investment into Thuy Tien Lake tourism area. There is an investor who is interested in investing in this abandoned tourist area after many years.

However, the obstacle encountered is that the old investor, Haco Hue Co., Ltd., still owes money to 2 banks. Due to losses in business, the company’s outstanding debt is almost impossible to repay.

Around mid-July 2022, the Thua Thien Hue Province Asset Auction Service Center, in collaboration with the Thua Thien-Hue Provincial Civil Enforcement Unit, conducted an auction of various assets of Haco Hue Co., Ltd. at Thuy Tien Lake Amusement Park. The starting price of the assets is nearly 3 billion VND.

These assets include: the yard area at the gate and parking lot, the lakeside walkway and two arch bridges, the main gate, the central square, the aquarium, the garden on the riverbank with two drain culverts, the outdoor performance area, games on the lake, picture restaurants, electrical systems, and tree planting.

Most recently, in November 2022, the Chairman of the People’s Committee of Hue City directed the Hue Parks and Greenery Center and relevant units of the city to protect and clean up the landscape, renovate infrastructure, repair restrooms, etc. in order to put into operation outdoor entertainment activities at Thuy Tien Lake in March 2023.

According to city leaders, 20 billion VND is only enough to renovate a part of the entire Thuy Tien Park area. The renovation will aim to turn this place into a public park serving local residents. In the short term, the renovation work will start with the pedestrian path around the more than 2km long Thuy Tien Lake, which is 4.5 to 6m wide, including renovating the current concrete road, lighting system, and water supply and drainage system.

SOURCEcafef
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