On December 25, speaking with a reporter from Lao Dong Newspaper, Mr. Nguyen Trong Ngoc - General Director of Giang Nam Petroleum Company Limited - said that the Company had sent a document to the People's Committee of Ha Tinh province to request the suspension of the project to build a working headquarters combined with a Giang Nam petroleum store in Tran Phu ward.
Previously, Giang Nam Petroleum Company Limited had sent a document requesting Ha Tinh province to adjust the scale of the project from building a 5-storey office building to 3 floors. However, it was not approved by Ha Tinh province. Therefore, the Company decided to stop the project and return the land to Ha Tinh province.
The reason for reducing the scale was that the Company previously calculated to build a 5-storey office building to combine with a rental office. However, the Company is only allowed to build a working office for officers and employees. Therefore, the Company requested to reduce the scale of the head office to get a reduction in land rent.
As Lao Dong reported, in February 2023, the People's Committee of Ha Tinh province approved the investment policy for the project to build a working headquarters combined with a Giang Nam gas station in Thach Trung commune, now Tran Phu ward.
The project is invested by Giang Nam Petroleum Company Limited (headquartered in Hai Phong City), with a total cost of more than 45.5 billion VND, implemented on an area of over 9,000 m2.
The goal of the project is to build a 5-storey office building and a level 3 gas station to trade in petroleum and gas products.
The People's Committee of Ha Tinh province assigned Giang Nam Company to implement the project within 24 months from the date of the decision on land allocation and land lease. The project's operation period is 50 years.
However, when the project was under construction, at the end of April 2025, Giang Nam Petroleum Company issued a document requesting to stop the project and return the land to Ha Tinh province.
The enterprise believes that with the Ha Tinh Provincial People's Committee approving the land price for the project's leased land plot of more than 19.5 million VND/m2, in the first 5 years, it was too high.
Because, after implementing the 1-year land rent exemption regime, this Company still has to pay more than 8.5 billion VND.
After that, representatives of relevant departments, branches and localities of Ha Tinh province had a meeting with Giang Nam Petroleum Company Limited to listen to opinions and find solutions.
Next, Giang Nam Petroleum Company Limited submitted a document requesting to adjust the project scale but was not approved, so it continued to request to stop the project.
Currently, the People's Committee of Ha Tinh province has issued a document assigning relevant departments and branches to advise and handle the procedures to stop the project as proposed by the enterprise.
