The first BOT waterway project is in danger of bankruptcy
Ho Chi Minh CityThe option of collecting tolls for payback and finance is not feasible, making the first BOT waterway project in the country at risk of bankruptcy, according to Project Management Board 7.
The content has just been reported by the above agency to the Ministry of Transport, related to the implementation of the project to renovate and upgrade the Saigon river channel from Binh Loi bridge (HCMC) to Ben Suc port (Binh Duong). The project has a total investment of more than 1,300 billion VND, implemented under the BOT contract (build – operate – transfer). .
The project includes dredging and expanding about 71 km of Saigon river channel; new construction of Binh Loi railway bridge. Started in 2015, the project is invested by Binh Loi BOT Investment Company Limited, is expected to be completed and fee payback from 2018. However, the implementation process encountered many problems, so the investor stopped the improvement of the Saigon river channel after completing the Binh Loi railway bridge from September 2019.
Binh Loi railway bridge has just been put into operation in 2019. Photo: Huu Khoa
If there are difficulties in the implementation process, Project Management Board 7 said that according to the financial plan in the contract, the return of capital to the investor will apply tolls for waterway vehicles with a tonnage of more than 300 tons at three ports. : An Son, Rach Bap and Ben Suc (Binh Duong).
However, currently, Ben Suc and Rach Bap ports have not been invested, while An Son port has only been partially built. Binh Duong province has also adjusted the planning, leaving Ben Suc port and replacing it with a port in another location. Therefore, when the project is completed, there will be no port to collect fees as in the previous plan.
In addition, the source of investment capital for the project is currently facing many problems such as the donor bank cannot disburse the loan due to the change in the structure; Credit contract is broken, so there are no resources to perform the remaining items…
The old Binh Loi iron bridge (white) before being dismantled to build a new bridge. Image: Nhu Quynh
Because both the payback and financing options are not feasible, the Project Management Board 7 said that the above BOT project could not complete its original goal. Currently, this agency proposes to the Ministry of Transport to propose the Prime Minister to change the form of investment, creating conditions for project enterprises to pay for equity and profits; loan repayment…
Previously, the new Binh Loi railway bridge section of the project, after the investment was completed, raised the static clearance to 7 m. The investor then also dismantled the old iron bridge spans, keeping only two spans to preserve them at the request of Ho Chi Minh City, making it easier for boats and barges to pass through the area.
Gia minh
at Blogtuan.info – Source: vnexpress.net – Read the original article here
