Currently, in Nha Trang city, Phuc Son Group is implementing 2 BT (build-transfer) projects, recovering capital from the old Nha Trang airport land fund, namely Ngoc Hoi Intersection Project and Ring Road 2 Project. Both of these projects are behind schedule due to land clearance problems. In March 2024, the leaders of Phuc Son Group were prosecuted and temporarily detained by the Investigation Police Agency, Ministry of Public Security, and these 2 projects continued to be stalled. Khanh Hoa Provincial People's Committee has taken many steps to resolve the issue, inviting representatives of Phuc Son Group to work.

According to the report, the Ngoc Hoi Intersection Project has basically completed branches N1, N2, N3, the roundabout; branch N4 and the pedestrian bridge over the railway are under construction. The estimated construction value to date is more than 653 billion VND, reaching 73% of the total investment. The Ring Road 2 Project connecting Ngoc Hoi Intersection has basically completed the southern branch with a length of about 5.8km. The northern branch from Ngoc Hoi Intersection to Nguyen Xien Street, about 4km long, has not been implemented due to land clearance problems.

The Ring Road 2 project has just basically completed the southern branch

At the meeting with the Khanh Hoa Provincial People's Committee, the representative of the Phuc Son Group said that they will continue to implement these projects; have appointed the Head of Nha Trang Office to coordinate with departments and branches to implement the project; have worked with banks to ensure finance for the implementation of unfinished items in the 2 projects.

Mr. Tran Hoa Nam, Vice Chairman of Khanh Hoa Provincial People's Committee, requested Phuc Son Group Joint Stock Company to promptly send a document to the Provincial People's Committee stating its commitment to continue implementing the two projects of Ngoc Hoi Intersection and Ring Road 2. The Provincial Traffic Construction Investment Project Management Board urgently chaired the work with Phuc Son Group Joint Stock Company and the Department of Planning and Investment to finalize tasks such as: Adjusting the project feasibility report, extending the project implementation period, proving the investor's capacity, etc.

Khanh Hoa Provincial People's Committee requested that for the southern branch of Ring Road 2, the remaining tasks must be urgently completed to complete the handover procedures; For the northern branch of Ring Road 2, Nha Trang City People's Committee needs to continue to implement the compensation and site clearance work according to the new Land Law, paying attention to developing a detailed plan to monitor the implementation.

Thai Binh - VOV Central