VietNamNet Bridge – The investment licence for a long delayed project to build a nix-waste treatment facility in the Van Phong Economic Zone has been revoked by the zone's management.

The Ninh Thuy Nix-waste Treatment Plant, named after the commune where it is located in Khanh Hoa Province's Ninh Hoa District, was a nearly VND1.5 trillion (US$72 million) project invested in by the Ha Noi Minerals Metallurgy Ltd Co.

Started in 2009, the plant was expected to become operational in May 2011.

In December 2009, the investor signed a contract with a joint venture between South Korea's Hyundai Group and State-run Vinashin, to build a facility to treat 330,000 tonnes of nix-waste per year in the economic zone.

According to the contract, after three years of operation, the plant would be able to treat nearly one million tonnes of nix-waste discharged by the Hyundai-Vinashin joint venture in the process of repairing ships.

However, project construction has remained at a standstill since the first day, and site clearance is the only work that has been completed, according to the economic zone's management authority.

A representative of the Viet Nam Development Bank (VDB), from which the investor wanted to borrow funds, said they had accepted the investor's application in principle, but because the investor had not submitted the needed financial reports, the bank could not disburse the money.

In order to treat all the nix waste, the management authority of the economic zone has given the licence to Thach Anh Van Phong Ltd Co. for building a high-intensity plant that uses nix waste to produce unbaked building materials.

This plant has an investment of VND200 billion ($9.6 million) with a capacity of 70,000 cubic metres per year, equivalent to 75,000 tonnes of nix-waste per year. However, it would take more than 10 years to treat all the nix-waste in the zone, according to the management authority.

The Van Phong Bay, a famous tourist attraction in Khanh Hoa, is badly affected by pollution caused by insufficiently treated nix-waste discharged by the Hyundai-Vinashin joint venture.

Source: VNS