The Saigon-An Khe Water Plant. (Photo: Gia Lai Newspaper)
The Vietnam Investment and Development Joint Stock Commercial Bank (BIDV) has announced the auction of the entire debt of Saigon – An Khe Water Joint Stock Company. According to BIDV, the total estimated outstanding debt as of October 30, 2023 for this debt is nearly VND 133.7 billion, of which the principal debt is VND 100.8 billion, and the interest and late payment penalty debt is VND 32.9 billion.
The collateral for this debt is the entire plant and water supply system in An Khe town, Gia Lai province, and surrounding areas. BIDV has set the starting price for this debt at the total value of the principal, interest, and fees (if any) at the time of signing the debt auction contract.
The Saigon – An Khe Water Plant was put into operation in July 2018 with a total investment of over VND 160 billion. The plant has a designed capacity of 9,500 m3/day and supplies clean water to 9 communes and wards in An Khe town and 3 communes in Dak Po district. The pipeline system of the plant, including 1st, 2nd, and 3rd pipelines, has a total length of over 200 km.
According to the report of Saigon-An Khe Water Joint Stock Company, as of May 2020, An Khe town had 7,018 customers and Dak Po district had 1,026 customers using water meters installed by the plant. The average daily consumption reached about 3,500 m3, which is still far below the design capacity of 9,500 m3/day, leading the company to suffer heavy losses.
