The Company Limited Phuc Son Group that Investigation Police Department of corruption, economic crimes and smuggling – Ministry of Public Security had a request for the province of Quang Ngai to provide documentation, according to the reporter’s investigation, in locality, Group Phuc Son and affiliated companies have built, invested in 4 projects with capital amounting to thousands of billion Vietnamese Dong.
Project of South bank of Tra Khuc river. Photo: T.Truc
These projects include: the south bank road of Tra Khuc river (total investment capital of nearly 1,000 billion VND, in 2012), Bau Giang urban area (3,318 billion VND), Dung Quat industrial urban area (2,000 billion VND) and Quang Ngai water plant project (540 billion VND).
In addition, in 2017, Hoang Thinh Dat Joint Stock Company (a member of Phuc Son Group) spent 145 billion VND to “acquire” the Water Supply and Drainage Company and Construction Investment joint stock Company of Quang Ngai. Currently, the capital contribution of Hoang Thinh Dat Joint Stock Company at the Water Supply and Drainage Company and Construction Investment joint stock Company of Quang Ngai is 72.55%; The People’s Committee of Quang Ngai province holds 23.36%, the remaining portion belongs to other shareholders.
Project of South bank of Tra Khuc river. Photo: T.Truc
Among the 4 projects in Quang Ngai, up to now, the south bank road of Tra Khuc river has been completed and put into use, bringing about efficiency.
Meanwhile, Dung Quat Industrial Urban project (in Dung Quat Economic Zone, Binh Son District, Quang Ngai province) by Hoang Thinh Dat Joint Stock Company as investor was granted the investment registration certificate in 2016. This project is divided into 2 phases, phase 1 includes phase 1A with an area of over 151 hectares and phase 1B with an area of over 167 hectares; Phase 2 has an area of nearly 177 hectares – total investment capital is 2,025 billion VND.
However, after many years of being licensed, up to now, the project is still an empty land, being used by people to graze buffaloes and cows.
Dung Quat Industrial Urban project is still an empty land. Photo: T.Truc
It is worth mentioning that at the time of project implementation, Quang Ngai province had temporarily advanced 130 billion VND for the investor to pay compensation and clearance expenses. However, the project has only been partially implemented and has been continuously extended.
Parallel to Dung Quat Industrial Urban project, in 2015, Quang Ngai province continued to approve the investment plan for Hoang Thinh Dat Joint Stock Company to implement Quang Ngai Water Plant project with an area of nearly 14 hectares in Nghia Ky and Nghia Thuan communes, Tu Nghia district. The project has a total investment capital of 540 billion VND.
According to the plan, at the end of 2019, the project completed phase 1 and went into operation. However, the project is still in a limbo state.
Quang Ngai Water Plant project is still in a limbo state. Photo: T.Truc
Another member of Phuc Son Group is Thang Long Joint Stock Company – Investment and Trading Company and Real Estate, which Quang Ngai province has decided to approve the investment project plan for Bau Giang urban area (Nghia Trung commune, Tu Nghia district and Chanh Lo ward, Quang Ngai City). The project has a total area of over 49 hectares, a total investment of 3,318 billion VND, and remains an empty and deserted land.
As reported by Bao Nguoi Lao Dong, the Investigative Police Agency has prosecuted and temporarily detained Mr. Nguyen Van Hau (known as “Hau Phao”), Chairman of the Board of Directors of Phuc Son Group, for the offense of “Violation of accounting regulations causing serious consequences.”
This is the result after the Ministry of Public Security investigated the case of “Violation of accounting regulations causing serious consequences” that occurred at Phuc Son Group Joint Stock Company, Thang Long Joint Stock Company – Investment and Trading Company and Real Estate and related units.
Recently, the Investigation Police Department of corruption, economic crimes and smuggling requested Quang Ngai province to provide documents on the process of approving investment policies, selecting investors, implementing investment and construction, declaring and fulfilling tax obligations… of projects, works by Phuc Son Group Joint Stock Company and affiliated companies as investors, contractors in Quang Ngai.
