Saigon-An Khe Water Plant. (Photo: Gia Lai News)
The Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) has recently announced the auction of the entire debt of Saigon – An Khe Water Company. According to BIDV, the estimated total 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 fees are 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 equal to the total value of the principal, interest, and fees (if any) at the time of signing the auction contract for the debt.
The 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, supplying clean water to 9 communes and wards of An Khe town and 3 communes of Dak Po district. The pipeline system of the Plant, including Lines 1, 2, and 3, has 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 installed by the Plant. The average daily water consumption reached about 3,500 m3, which is still much lower than the design capacity of 9,500 m3/day and night, resulting in heavy losses for the company.
