Phu Son Cement's debt at BIDV as of November 15, 2024 is 19,704,657 Euro. Of which, the principal balance is 7,000,000 Euro; interest debt is 12,794,675 Euro.

The value of the debt after conversion at the exchange rate on November 15, 2024 is VND 529,917 billion. The bank wants to sell the debt at a starting price equal to the value of the debt.

Construction Newspaper Photo.jpg
The operating house of Phu Son Cement Company is unfinished and abandoned. Photo: Construction Newspaper.

Notably, one of the assets securing Phu Son Cement's short-term loan at BIDV is the land use right and the property attached to the land, which is the Thai Ha Private Primary School (formerly), now the Very Intelligent Pupils International Private Primary School Hanoi (VIP Hanoi International Private Primary School); located at 14C Phao Dai Lang Street, Lang Thuong Ward, Dong Da District, Hanoi; according to the land use right certificate issued on October 11, 2001.

It is known that VIP Hanoi International Private Primary School belongs to the Hanoi VIP Education System, established in 2006, with Ms. Hoang Thi Ngoc Mai as Chairwoman of the Board of Directors. The name Very Intelligent Pupils International School Hanoi is understood as the school of "truly knowledgeable students".

Phu Son Cement was established in 2006 in Phu Son commune, Nho Quan district, Ninh Binh province, with Mr. Nguyen Huu Loi as Chairman of the Board of Directors and Mr. Nguyen Hong Hai as General Director.

In 2007, Phu Son built the first Phu Son Cement Factory in Phu Son Commune, Nho Quan District, with a capacity of 11 million tons/year and a total investment of 5,000 billion VND.

After many years, the 40-hectare land of the project is still abandoned, with many construction items unfinished. In 2022, the Ninh Binh Provincial People's Committee issued a document directing relevant units to carry out procedures to terminate this project.