Dak Psi Hydroelectric Plant with a capacity of 18 MW is one of the secured assets for a principal debt worth 633 billion Vietnamese dong at BIDV, along with other accompanying assets, currently being auctioned.
Vietnam Joint Stock Commercial Bank for Investment and Development (BIDV) is announcing the second auction of the debt of two corporate customers, namely Duc Nhan Dak Psi Hydropower Joint Stock Company and Hoang Nhi Limited Liability Company.
The starting price is set at over 914 billion dong, which is a reduction of approximately 102 billion dong compared to the first auction. The total outstanding debt of the provisional debt as of May 9th is 1,016 billion dong, of which the principal debt is 633 billion dong.
The auctioned assets include various real estate properties such as the Dak Psi Hydroelectric Plant with a capacity of 18 MW, a construction material production plant in Tra Da Industrial Zone, Pleiku City, Gia Lai Province, as well as houses and land in Gia Lai and Kon Tum.
Additionally, this debt is secured by numerous machinery and equipment, specialized vehicles, and various types of cars such as Toyota Camry, Toyota Fortuner, excavators, rollers, bulldozers, and dump trucks.
Furthermore, the collateral assets also include receivables from Nuoc Che Hydropower Joint Stock Company, amounting to over 250 million dong, and 17.86 million shares of Duc Nhan – Dak Psi Hydropower Joint Stock Company (not yet listed) and 24.541 million shares of Nuoc Che Hydropower Joint Stock Company (not yet listed). These shares are owned by Mr. Ho Sy Thai.
Dak Psi Hydropower Plant is invested by Duc Nhan Dak Psi Hydropower Joint Stock Company. Photo: Trungnguyenhoist.
In May, BIDV’s Gia Lai branch also held the 11th auction for the Tan Thuong Hydropower Plant project located in Tan Lam Commune, Di Linh District, and Tan Thanh Commune, Lam Ha District, Lam Dong Province, owned by Tan Thuong Energy Joint Stock Company.
The project had a starting price of over 325 billion dong, reduced by 133 billion dong compared to the first auction in November 2021. The Tan Thuong Hydropower Project has a designed capacity of 22 MW, an annual electricity output of 108 million kWh, and a total investment capital of 918 billion dong, with the main contractor being Song Da 9 Investment and Construction Joint Stock Company.
Previously, from 2017 to 2019, the Agriculture and Rural Development Bank (Agribank) also auctioned the secured assets, which were the land use rights and attached assets on the land of Dak Mek 3 Hydropower Plant, over 10 times.
The project has a capacity of 7.5 MW and is located in Dak Choong Commune, Dak Glei District, Kon Tum Province. Agribank stated that the auctioned assets included an area of 95,218 square meters, with a land use term until September 16, 2059, and a certificate of land use rights, ownership of residential houses, and other attached assets on an area of 442,782 square meters, with a land use term until September 16, 2059.
Agribank initially auctioned this project in December 2017 with a starting price of 179 billion dong. However, after 10 bidding rounds, Agribank had to reduce the price by nearly 91 billion dong compared to the initial starting price.
@Zing News
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