Huu Nghi Cement Factory, located in Thuy Van Industrial Park (Viet Tri City, Phu Tho Province), used to be the pride of the region with a total investment of more than 600 billion VND. However, after more than 20 years, despite a promising start, this factory is now abandoned, with many items seriously degraded.
Started in September 2001, Huu Nghi Cement Factory includes 4 component projects with a construction scale of 10 hectares.
In the early years, the factory became an economic highlight of Phu Tho province, attracting hundreds of workers and being one of the top budget contributors to the province.
According to the reporter's research, in 2002 - the first year of production, cement output reached 50,000 tons, revenue reached 30 billion VND, tax payment was 3 billion VND. The following year, output increased to 80,000 tons, revenue reached 50 billion VND, tax payment to the State was 5 billion VND.
By 2004, when the rotary kiln officially operated, the factory's cement output increased to 120,000 tons, total revenue reached 80 billion VND, and tax payment to the State was 8 billion VND, a very large number at that time.
However, by 2022, the investor - Huu Nghi Cement Joint Stock Company - no longer has the capacity to continue the project.
According to the assessment of the People's Committee of Phu Tho province, the total debt of the enterprise as of November 30, 2022 is up to 40.29 billion VND, including land rent, infrastructure, non-agricultural land use tax and late payment penalties.
On July 15, 2022, the People's Court of Phu Tho province issued Decision No. 351, declaring the opening of bankruptcy proceedings against Huu Nghi Cement Joint Stock Company.
More than two years after the bankruptcy proceedings were announced, at the Huu Nghi cement factory, according to the reporter of Lao Dong Newspaper, only a desolate image remains.
Many parts of the factory are seriously degraded, with overgrown vegetation inside the premises, rusty machinery, and even the walls of the buildings are peeling and covered with moss.
At the entrance, stains over time have obscured the once proud name "Huu Nghi Cement Factory".
According to a security guard hired to look after the factory complex, the factory yard is currently being used to store construction materials. The machinery inside, despite hundreds of billions of dong invested, is just left unused, left to decay by time.
Sharing with reporters, a leader of this enterprise said that the company is still carrying out procedures to liquidate assets.
Some images recorded by reporters at Huu Nghi Cement Factory:
