On October 17, the Quang Ngai Provincial People’s Committee Office announced that it had received a document from FLC Group requesting reimbursement for expenses incurred on projects in the Van Tuong New Urban Area, Binh Son District, Quang Ngai Province.
In the document sent to Quang Ngai Province, FLC Group stated that they had partnered with several joint-stock companies to invest in six projects in the Van Tuong area. The province had allocated a total land area of over 137 hectares for these projects. The investors had carried out various legal procedures, including land surveys, detailed planning at a 1/500 scale, environmental impact assessments, baseline and construction design packages, fire protection certification, and bomb disposal.
Large areas of agricultural land in Binh Tan Phu commune, Binh Son district, have been compensated by FLC Group for ground clearance but not yet implemented. Photo: T.Truc
The investors had also been in the process of making compensation payments for site clearance, with total expenses amounting to over VND 80.5 billion. In response to the province’s call for voluntary project returns to facilitate the selection of new investors, the investors of the six projects had agreed and voluntarily submitted documents to terminate their involvement.
The beach area of An Thanh village, Binh Tan Phu commune, Binh Son district – where FLC Group held a grand groundbreaking ceremony for the projects in 2019. Photo: T.Truc
However, more than a year has passed since the voluntary return of the projects, and FLC Group and the investors have not received any information, response, or guidance regarding reimbursement for the expenses incurred. Meanwhile, the amount of over VND 80.5 billion is a significant sum and crucial for the Group and the companies in the current context.
FLC Group affirmed that, until there is a plan to reimburse the above amount to the investors, Quang Ngai cannot organize the selection of new investors to continue with the related projects.
With positive changes in the restructuring process, FLC Group is confident in its ability to restart these projects, which would not only bring economic benefits to FLC but also contribute to the province’s development. Additionally, FLC hopes that Quang Ngai will continue to introduce potential projects, especially in the fields of tourism, real estate, and infrastructure.
