FLC transfers 14 hundred billion coastal Hubway to Sam Son

Currently, the construction investment cost of project items is about VND 100 billion, including 14/14 Hubway units, 14/17 indoor bathing facilities, 12/18 outdoor bathing facilities, and an entertainment area. However, the implementation process did not meet expectations due to some obstacles. The project was invested and operated by the investor from 2016 until June 30, 2022.

According to annual financial reports that have been audited independently, the revenue from sales and services was over VND 108 billion, gross profit from sales and services was slightly over VND 15.4 billion, and the net profit after corporate income tax was negative VND 1.5 billion.

Due to ineffective investment and operation, on December 6, 2022, FLC Group proposed to terminate the BOT contract and hand over the invested construction items to Thanh Hoa for management.

According to Mr. Thang, the transfer of project assets from FLC to Sam Son City has not been completed. However, to avoid the deterioration of project items, in 2023, Sam Son City will temporarily manage and renovate the Hubway units and hand them over to the Cultural Center and ward and commune delegations for direct management.

“In the long term, after FLC completes the procedures to return the project, this will be the asset of the whole people managed by the state. Sam Son City will ask the Thanh Hoa People’s Committee to organize a widespread auction to select units to manage and operate these Hubway units,” said Mr. Thang.

@Vietnamnet