Phuc Son Group has not yet paid VND 12,000 billion and is being charged in Khanh Hoa

Hữu Long |

Khanh Hoa - Phuc Son Group has not yet returned nearly VND 12,000 billion requested by the locality due to not determining land prices and settlement.

Phuc Son Group Joint Stock Company (Phuc Son Group) has just explained to investors of the Nha Trang Urban - Commercial - Service - Financial Center Project (old Nha Trang Airport) about some contents, including state collection of nearly VND 12,000 billion.

This working session took place on the afternoon of February 18 in Vinh Tuong district, Vinh Phuc province. This is also the first time since Phuc Son Group has a new leader, organizing a meeting and publicly explaining to customers related to the projects of this enterprise.

Regarding the amount of nearly VND 12,000 billion that was collected, the representative of Phuc Son Group has not yet paid it to the budget. The reason given by this enterprise is that the State has not determined the land price, has not settled the 3 BT projects, so that the company can deduct.

The 3 BT projects that Phuc Son Group mentioned are the project of routes and intersections connecting Nha Trang airport; the belt road project connecting Ngoc Hoi intersection and the Ngoc Hoi intersection project.

Phuc Son Group commits to investors to fully fulfill financial obligations to the state; be ready to cooperate with authorities in Khanh Hoa in site clearance, speed up the implementation of BT projects.

San bay Nha Trang cu, nhin tu tren cao. Anh: Huu Long
Old Nha Trang airport, seen from above. Photo: Huu Long

Another issue of concern is how many investors have bought projects at the old Nha Trang Airport and how much do businesses earn? Regarding this, Phuc Son Group explained that the urban area project at the old Nha Trang Airport has 1,112 lots with an area of 9.2 ha/24.08ha; 958 lots have cooperated with investors, the rest are 154 lots.

The total amount that customers have paid to date is 7,000 billion VND, the remaining 3,000 billion VND has not been paid.

For the remaining 154 plots of land, this enterprise appraised many plots of land with high value, about VND18,000 billion (equivalent to VND500 million/m2).

According to this enterprise, site clearance is still difficult because it involves National Defense land.

In terms of finance, Phuc Son Group believes that the enterprise's assets including real estate, finance, and projects are up to 42,000 billion VND, so the enterprise's capacity is always guaranteed...

Violation of land allocation and lease at Nha Trang airport

The capital for Khanh Hoa to pay for BT projects of Phuc Son Group is land funds in Nha Trang Urban Center Area (old Nha Trang airport).

According to the records, Nha Trang airport is managed by the Ministry of National Defense, with a total area of about 238.82 hectares. In 2009, the Ministry of National Defense and Khanh Hoa province applied for the policy of converting the land use purpose of Nha Trang airport and received approval from the Prime Minister.

In 2015, Khanh Hoa province and the Ministry of National Defense signed a Minutes of handover of 18.8 hectares of Nha Trang airport land to the locality for management. Also in this year, Khanh Hoa province, the Air Force Officer School and Phuc Son Group handed over and received 18.8 hectares on site. Then in 2016, Phuc Son Group organized the handover and receipt of 44 hectares of land at Nha Trang airport (phase 2)...

In 2016, Khanh Hoa province issued Decision No. 3262 to reclaim land managed by the Air Force Officer School in the Nha Trang airport area and allocate land and lease land to Phuc Son Group to implement the Nha Trang Urban Center Project (division 2A; subdivision 2 and subdivision 3), with an area of 623,064m2.

Later, the contents of land allocation and lease in Decision 3262 mentioned above, the Government Inspectorate concluded that it violated the provisions of the Land Law and was not in accordance with the policy of using land funds at Nha Trang airport to recover capital for BT projects...

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