Do Luong Cement: After two changes of ownership, it's still not finished!

The project was implemented in 2006, but after more than 6 years, Do Luong Cement Factory has not yet been built, while the province has spent nearly 100 billion VND on investing in roads, compensation for site clearance, infrastructure, and fences...

Arriving at Bai Son - Do Luong, visiting the Do Luong Cement Factory Project, besides the office, the factory area is still an empty lot. This is identified as a key investment attraction project of the province in the Western Nghe An Socio-Economic Development Project according to Decision 147/2005 of the Prime Minister. The province has spent 55 billion VND to build the road to the factory, 27,427.6 billion VND to clear the land, build the resettlement area. The total budget spent on Do Luong Cement is nearly 100 billion VND.

The initial progress of the project was to complete installation by the end of 2009 and operate in early 2010. However, because most of the founding shareholders lacked capital and only contributed on the books, some shareholders did not contribute any money after many years, and in the end, the three original shareholders had to leave the list: Traffic Construction Corporation 4, Cau Duoc Cement Joint Stock Company and Construction Corporation 1.

Li la ma was in a dilemma, "could not leave, could not stay", so he had to attract more powerful shareholders to "shift responsibility". Housing and Urban Development Corporation (HUD) replaced the shareholders and became the controlling shareholder of Do Luong Cement Factory Project. When hearing the news that HUD was investing in Do Luong Cement, our province was somewhat reassured and hoped that the project would go smoothly.

Due to the prolonged project, the Provincial People's Committee has issued dozens of official dispatches to resolve problems and urge and remind. On December 9, 2010, the Provincial People's Committee issued an official dispatch reminding, including the following paragraph: "The Do Luong Cement investment project has been implemented for more than 5 years, much slower than the progress committed by the Investor. In the past, the Provincial People's Committee has issued many official dispatches to urge and remind, but the situation has not changed positively so far."

On April 7, 2011, the Provincial People's Committee issued Notice No. 123/TB/BND.CN on the concluding opinion of Comrade Huynh Thanh Dien - Vice Chairman of the Provincial People's Committee at the working session with Do Luong Cement Factory and all levels and sectors. Requesting Do Luong Cement Joint Stock Company to have a progress report on the project by April 30, 2011 at the latest.

Then, the Housing and Urban Development Corporation sent Official Letter No. 1244 dated April 21, 2011 to the Provincial People's Committee with the following commitments. First of all, HUD Group, as the controlling shareholder, has a document accepting responsibility before the People's Committee of Nghe An province for the delay in project implementation due to objective and subjective reasons. To resolve the difficulties, the corporation respectfully requests the Provincial People's Committee, all levels and sectors to continue to enthusiastically support and assist the project in investment procedures and investment support policies as in the past so that the project can achieve its socio-economic goals.

HUD Group stated in the document: "If receiving effective support from the Government, Central Ministries, Nghe An Provincial People's Committee and all levels and sectors of the province, HUD Group commits to directing Do Luong Cement Joint Stock Company to implement the project economically and on schedule. Trial run in August 2013. Handover and put into use on September 12, 2013.

However, the investment experts in charge of this project of the Provincial People's Committee said: The above document is just an excuse and evasion of the investor. Because the investor also stated the condition that the project will be restarted if the Provincial People's Committee ensures the policies for the project.

Meanwhile, the responsibility of the Provincial People's Committee has been exhausted for the project. Due to not fulfilling the commitment on progress, the project was refused preferential loans by the Development Bank. Now, according to the new regulations, the project is no longer eligible for preferential loans.

Due to lack of capital, missed opportunities, and the end of preferential mechanisms, shareholders came in and then left, leaving the factory in a state of limbo. Investors continuously raised demands to the province, many of which could not be met.

Public opinion believes that the Do Luong Cement Factory Project has not attracted enough investors and lacked enthusiasm for investment, thus wasting a lot of budget money for the project, causing resentment among the people in the affected areas. The personnel of the companies have been disrupted and the lives and jobs of dozens of workers are being affected because the project has not progressed.

But the worst consequence is that if HUD cannot meet the requirements, HUD will stop working, where will Do Luong Cement go?

Chau Lan