Saigon – An Khe Water Plant. (Photo: Gia Lai Newspaper)
Bank for Investment and Development of Vietnam (BIDV) has recently announced the auction of all the debts of Saigon – An Khe Water Joint Stock Company. According to BIDV, the estimated outstanding debts as of October 30, 2023 for this debt are nearly VND 133.7 billion, of which the principal debt is VND 100.8 billion, and the interest and late payment fees are VND 32.9 billion.
The collateral for the above debt is the entire water plant and water supply system in An Khe town, Gia Lai province and surrounding areas. BIDV has set the starting price for the debt equal to the total value of the principal, interest, and fees (if any) at the time of signing the auction contract for the debt.
Saigon – An Khe Water Plant was completed and put into operation in July 2018 with a total investment of over VND 160 billion. The plant has a design capacity of 9,500 m3/day and night, providing clean water for 9 communes/wards of An Khe town and 3 communes of Dak Po district. The 1st, 2nd, and 3rd supply pipelines of the plant have a total length of over 200 km.
According to the report of Saigon – An Khe Water Joint Stock Company, as of May 2020, there were 7,018 customers in An Khe town and 1,026 customers in Dak Po district using water meters supplied by the plant, with an average consumption of about 3,500 m3/day and night. This figure is still much lower than the design capacity of 9,500 m3/day and night, leading to heavy losses for the company.
