Hanoi's wastewater treatment plant financial issues audited
The State Audit Office of Vietnam has requested the investor of the Yen So Sewage Treatment Plant to return millions of US dollars after uncovering various violations.
Yen So Plant is a build-transfer project between Hanoi authorities and the Malaysian group Gamuda Berhad. The project's investment was estimated at nearly USD250m. The plant was built from 2009 to 2012.
However, according to the State Audit Office of Vietnam, there were errors in the project's balance sheet that cost up to USD147.8m. It demanded the group to adjust final accounts at the end of the project to USD61.9m.
In addition, the group hasn't returned the investment in several constructions that were not approved by the city. For example, five reservoirs that cost USD6.77m which were not approved in the investment decision.
The office also proposed to review responsibility of the Department of Natural Resources and Environment and the Gamuda Land Vietnam Company.
Yen So Sewage Treatment Plant was part of the Yen So Park before being converted into a BT project.
Yen So Plant is a build-transfer project between Hanoi authorities and the Malaysian group Gamuda Berhad. The project's investment was estimated at nearly USD250m. The plant was built from 2009 to 2012.
However, according to the State Audit Office of Vietnam, there were errors in the project's balance sheet that cost up to USD147.8m. It demanded the group to adjust final accounts at the end of the project to USD61.9m.
Yen So Sewage Treatment Plant
In addition, the group hasn't returned the investment in several constructions that were not approved by the city. For example, five reservoirs that cost USD6.77m which were not approved in the investment decision.
The office also proposed to review responsibility of the Department of Natural Resources and Environment and the Gamuda Land Vietnam Company.
Yen So Sewage Treatment Plant was part of the Yen So Park before being converted into a BT project.
Leave your comment on this story