Restructuring of Hebei Nitrogenous Fertilizer and Chemical Company

On the morning of April 1, Deputy Prime Minister Le Minh Khai worked with the Chemical Group and related ministries and sectors to find solutions to remove bottlenecks and obstacles in the restructuring of Nitrogenous Fertilizer and Chemical Joint Stock Company. Ha Bac phase 2.

At the meeting, after listening to the report on production and business situation, difficulties in loans, accumulated losses for many years as well as proposals on restructuring plan. Hebei Protein Factory in the context that this project is at a loss, owes more than VND 6,400 billion and is in dispute over the EPC contract.

Deputy Prime Minister Le Minh Khai highly appreciated Chemical Group, Ha Bac Fertilizer and Chemical Joint Stock Company for their efforts in dealing with difficulties in recent years, bringing the project into operation with a capacity of over 90 years. %.

According to the Deputy Prime Minister, among the four proposed solutions to overcome difficulties, the plan to restructure capital, apply for an interest rate adjustment, apply for debt freeze, and remove penalty interest on interest and late payment principal is feasible. Best.

The Deputy Prime Minister asked the ministries, branches and chemical groups to concretize the plan together with the proposed solutions and forecasts on prices, market fluctuations, restructuring deadlines, and responsibilities of each department. relevant, ensure feasibility, to submit to the competent authorities for consideration no later than August, in the spirit of strictly complying with the provisions of law, ensuring long-term benefits is the effective operation of the project, resolutely deal with the deficit State capital.

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