Revocation of Investment Certificate for Iron Ore Selection Plant Project
(Baonghean.vn) -On July 5, 2012, the People's Committee of Nghe An province decided to terminate the operation and revoke the Investment Certificate granted to Tieu Khang Joint Stock Company, Chongqing (China) and Dan Kien Hao Thanh Van Nam Company (China) to establish Tieu Khang Vietnam Iron and Steel Joint Stock Company to implement the Iron Ore Selection Workshop project in Khanh Son commune, Nam Dan district, Nghe An province. The reason was that the investor did not implement the project according to the prescribed schedule.
The Decision also requires Tieu Khang Joint Stock Company, Chongqing (China), Dan Kien Hao Thanh Van Nam Company (China) and Tieu Khang Iron and Steel Joint Stock Company Vietnam to return the original Investment Certificate to the Department of Planning and Investment of Nghe An province; terminate activities related to the project according to the provisions of Vietnamese law; Be responsible for debts, fees payable and other unpaid property obligations (if any) according to the provisions of current laws of the State of Vietnam.
Thus, in just the past 2 months, the Provincial People's Committee has decided to revoke the investment certificates of 8 projects due to delays or failure to implement on schedule.
PV
