TPO - The consortium of investors has reported in writing that the total costs related to the implementation of the Phan Dinh Phung Stadium project in Ho Chi Minh City are nearly 172 billion VND. However, through a preliminary review, the Working Group found that many costs listed by the consortium of investors cannot be paid.
The Working Group to resolve the problems of the Phan Dinh Phung Stadium project has just sent a document advising the Ho Chi Minh City People's Committee on terminating the investment agreement with the project's investor consortium.
The Phan Dinh Phung Sports Center Construction Project under the PPP form (BT contract) has been approved by the Ho Chi Minh City People's Committee for the results of investor selection in 2018. At the same time, the project agreement was signed on June 18, 2018 between the Ho Chi Minh City People's Committee and the joint venture of the Compensation and Clearance Joint Stock Corporation - Phat Dat Real Estate Development Joint Stock Company.
According to point b, clause 5, Article 101 of the PPP Law only regulates the organization of contract signing, there is no regulation on the case where an investment agreement has been signed but the contract is not continued. Therefore, the Working Group finds that signing a new agreement to terminate the signed investment agreement can be legally guaranteed.
The most important content in terminating the investment agreement is about the costs that will be refunded to the investor consortium. Therefore, the proposal in the content of terminating the investment agreement only stops at agreeing in principle that Ho Chi Minh City will refund the costs to the consortium in accordance with legal regulations.
Previously, the investor consortium had document No. 231/2024/PD-LD dated July 8, reporting the total cost related to project implementation as nearly 172 billion VND.
The Working Group requested the investor consortium to provide relevant documents and papers for comparison and review. Through preliminary review, the Working Group found that many expenses listed by the investor consortium could not be paid.
Currently, the project has not yet implemented construction contents, so basically it is only possible to pay investment preparation costs according to legal regulations (costs related to preparing pre-feasibility study reports, feasibility study reports). In addition, it is possible to make payments for other contents for the investor consortium if there is an approval policy from the Ho Chi Minh City People's Committee.
Previously, in March 2010, the Ho Chi Minh City People's Committee proposed to the Prime Minister to pilot the project of building Phan Dinh Phung Sports Center under the BT Contract form.
At the same time, the Ho Chi Minh City People's Committee also proposed that the Prime Minister approve the appointment of the Compensation and Clearance Corporation and An Tao Company Limited as investors.
In 2011, due to lack of capacity, An Tao Company withdrew from the project. Ho Chi Minh City People's Committee asked the Prime Minister to approve the appointment of the Compensation and Clearance Corporation to unilaterally continue implementing the project.
In August 2011, the Government Office issued an official dispatch conveying the direction of Deputy Prime Minister Hoang Trung Hai, directing the Ho Chi Minh City People's Committee to decide and take full responsibility for changing the investor.... On that basis, the Ho Chi Minh City People's Committee issued an official dispatch approving the Compensation and Clearance Corporation to continue being the investor.
From 2011 to 2016, the Ho Chi Minh City People's Committee organized the design of the stadium. Through design changes, the estimated investment was adjusted from 988 billion VND to nearly 1,353 billion VND (in 2013) and 1,954 billion VND (in 2016).
In January 2018, the Ho Chi Minh City People's Committee issued a decision to appoint the joint venture of Compensation and Clearance Corporation - Phat Dat Real Estate Development Corporation as the investor. In June 2018, the Ho Chi Minh City People's Committee and the investor signed an investment agreement.
On April 26, Chairman of the Ho Chi Minh City People's Committee Phan Van Mai directed the suspension of project investment under the public-private partnership method and conversion to public investment method.
Source: https://tienphong.vn/nha-thi-dau-phan-dinh-phung-nhieu-chi-phi-lien-danh-liet-ke-khong-the-thanh-toan-post1668450.tpo
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