Phu Quoc garbage factory can't handle garbage: Vietinbank 'squeezes' a a hundred billion VND debt

A project of Phu Quoc garbage factory with a scale of 230 billion VND was inefficient, repossesse and now the debt of the management company is being sold by Vietinbank.

Vietnam Joint Stock Commercial Bank for Industry and Trade - Phu Quoc branch has just announced the settlement of the debt of Global Renewable Energy Joint Stock Company.

This is a loan with a principal balance of VND 85.6 billion, an interest balance of VND 19.9 billion, a total outstanding balance as of November 5, 2021 is VND 105.4 billion.

Vietinbank said that Global Company has borrowed capital to implement a project to build a waste power plant in Bai Bon hamlet, Ham Ninh commune, Ho Chi Minh City. Phu Quoc, Kien Giang province with an area of ​​104,853.6 m2, expected capacity of 200 tons of waste/day according to the technology of Hydraulic Machinery Company Limited (HMC). The project has completed the construction of infrastructure and installed machinery and equipment (MMTB), however, due to the low operating capacity, the project cannot continue to operate.

Collateral for the debt includes the line of waste treatment machinery and equipment according to gasification technology for power generation and construction works under the project, including:

- The main factory area has an area of ​​5,800m2,

- The generator house has an area of ​​1,200 m2,

- Other works with an area of ​​2,641 m2 (including: Administrative area 436 m2, parking lot 298 m2, Syngas refrigeration and air purification system 674 m2, sewer 144 m2 and internal road 1,089 m2).

The Phu Quoc waste treatment plant of Global Company is invested with a total cost of about 230 billion VND, with a capacity of handling 200 tons of waste/day. At the time of construction, leaders of Kien Giang province and Phu Quoc district put a lot of expectations on the project and assessed it as the best solution for waste treatment and environmental protection for Phu Quoc. The People's Committee of Kien Giang province and Phu Quoc district have created all the most favorable conditions, promptly removed difficulties and obstacles for investors in the process of implementing the project, from choosing the location to build the factory, ensure the conditions of traffic infrastructure, electricity... connecting to the factory.

In October 2017, this factory went into operation. However, during the trial operation, the factory encountered technical problems with the production line, causing the collected waste to not be processed in time and over 300 tons in inventory, causing pollution affecting the people around. By December 2017, the factory had to temporarily stop collecting garbage.

The People's Committee of Phu Quoc Province and District has repeatedly extended the extension to create conditions for investors to overcome the problem, but so far, through many extensions, the factory has not operated properly with investment commitments. The slow progress of the factory, failure to complete and put into operation the waste treatment in accordance with the technique, technology and capacity as originally committed, has seriously affected the waste treatment on Phu island. National; The amount of backlog and untreated waste is increasing, causing many difficulties for the locality, directly affecting the environment, socio-economic development and development orientation of Phu Quoc island.

In July 2018, the factory resumed operation but only reached a capacity of 40 tons/day, causing garbage jams and inefficiencies. Therefore, Phu Quoc decided to withdraw the project.

It is known that Phu Quoc generates about 150 tons of domestic waste every day, on peak days there are many tourists, sometimes up to 180 tons of waste. However, because there is no waste treatment plant in operation, the daily waste is only collected and brought to Ong Lang landfill.

From July 2020, garbage is brought to Dong Cay Sao landfill (Cua Duong commune). However, it is expected that soon it will be overloaded like the previous Ong Lang landfill.

According to Cafebiz