Deputy Prime Minister Truong Hoa Binh has asked the Ministry of Public Security to direct, investigate, clarify and handle violations in three trillion-dollar projects of PetroVietnam.

"The Ministry of Public Security shall coordinate with the Central Committee for Internal Affairs, the Supreme People's Procuracy and the Supreme People's Court in selecting a number of typical corruption cases and cases to review and withdraw experience and continue to bring A number of cases belong to the Central Steering Committee for Anti-Corruption Monitoring, "said Deputy Prime Minister Truong Hoa Binh.

Dinh Vu Fibers Factory; Phu Tho ethanol biofuel plant construction project and Dung Quat ethanol plant project are 3 factories which are being stopped by PetroVietnam.

                     

       Dung Quat ethanol project set up, halted operation nearly 2 years. Photo: H.T

Of these three projects, Dung Quat ethanol fuel plant project was besides the capital raising of over 2,100 billion VND and suffered a loss of 200 billion VND after one year of operation. This project has been suspended for almost 2 years now.

The Phu Tho ethanol biofuel plant project was started construction in the third quarter of 2009 but has been suspended since November 2011. Total debt until the end of December 2016 of this project is nearly 830 billion.

Dinh Vu fiberglass project (PVTex) has a total investment of about $ 325 million (7,200 billion) in the end of 2008. On May 29, 2014, the factory officially operated commercial with a capacity of 236 One ton of fiber a day, reaching 48% of design capacity. Losses caused PVTex to stop operating from 17/9/2015 until now, many employees have to temporarily leave.

In 2015, PVTex lost VND1,255 billion, negative equity of VND504 billion. Previously in 2014, revenue of this plant was only 992 billion, loss 1,085 billion.

Deputy Prime Minister Vuong Dinh Hue has criticized Petrovietnam's leaders for failing to move in the handling of losses projects at a meeting on handling 12 slow-moving, ineffective projects of the industry. Belonging to this group. While some other losses of the industry and trade have changed, restarting production, the projects of PetroVietnam "almost no change, the situation is worse." He asked the PetroVietnam leadership to set up a working group, assign specific tasks and set a clear timetable, timeline and solutions to overcome difficulties and obstacles for this project.

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