The project of Cattle Breeding and Planting Raw Materials in Ha Tinh of Binh Ha Livestock Joint Stock Company was approved for investment by the People's Committee of Ha Tinh province in April 2015, adjusted in Decision No. 99 in January 2016.
The total investment capital was 4,582 billion VND, the land area used was 2,163 hectares in Cam Xuyen and Ky Anh districts with a scale of 254,200 cows/year. However, the project was later ineffective, the company's leaders and some related bank officials who lent money to the project were prosecuted.
Since the end of March 2017, the project has stopped raising cows and the barn system has been abandoned.
In May 2021, Binh Ha Company had a policy to restructure and restart the project in the form of a business cooperation contract (BCC) and was approved by the People's Committee of Ha Tinh province in Decision No. 29 dated May 11, 2021.
After restructuring and adjusting the scale, the project was implemented on an area of 1,227 hectares (of which Ky Anh is 538.56 hectares and Cam Xuyen is 688.98 hectares) with the total investment capital reduced to 1,800 billion VND.
The herd size was reduced to 35,000 cows, and additional planting of pineapples, bananas, corn, fruit trees, grass, and medicinal herbs was added.
According to Binh Ha Company's report, by the end of 2023, the enterprise had been leased land by Ha Tinh province, handing over 819.87 hectares of land, of which 633.81 hectares had been cleared and reclaimed for growing grass and building barns.
In the past, Binh Ha Company and its business partner, Do Holdings Investment and Development Trading Joint Stock Company (Ho Chi Minh City), have combined livestock farming and planting corn, cassava, grass, pineapple and medicinal plants, but it was not effective, so from March 31, 2023, the partner withdrew from the project.
To date, the project has imported 3,147 cows and 607 buffaloes to the farm, and planted various crops on an area of 298 hectares.
On November 16, 2023, Binh Ha Company sent Document No. 209 to the Department of Planning and Investment of Ha Tinh province, requesting not to deposit the project investment fund with the amount of 15.5 billion VND or to delay the deposit while waiting for the execution of the judgment and searching for a partner to receive the project transfer.
However, the Ha Tinh Department of Planning and Investment later issued a document not accepting the above proposal.
Because, according to the Department of Planning and Investment of Ha Tinh, the Cattle Breeding and Raw Material Planting Project in Ha Tinh of Binh Ha Livestock Joint Stock Company has been calculated to reduce 50% of the investment deposit according to regulations.
On January 29, speaking with a reporter from Lao Dong Newspaper, Mr. Phan Van Nhan - Head of the Enterprise Department of the Ha Tinh Department of Planning and Investment - said that after the Department did not accept the proposal of Binh Ha Company, the company has paid a part of the project investment deposit.
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