Implementing the direction of the Provincial People's Committee, the Provincial Traffic Construction Investment Project Management Board has requested Phuc Son Group Joint Stock Company to urgently overcome some shortcomings of the project regarding the inspection of acceptance work during the construction of Ngoc Hoi Intersection; at the same time, urgently coordinate with the construction contractor, the supervision consultant and the design consultant to inspect, calculate and clearly determine the completed volume and the remaining volume of the project. However, up to now, the board has only received a report from Phuc Son Group Joint Stock Company stating the total value of construction and installation that has been performed, without clearly calculating the total completed volume and the remaining volume.

For the Ring Road 2 Project (connecting Ngoc Hoi Intersection), Phuc Son Group Joint Stock Company has basically completed the construction of the southern branch with a length of 5.8km (from Nguyen Tat Thanh Street to Ngoc Hoi Intersection). However, the asphalt concrete road surface is only 86% complete; The new sidewalk paving is 94% complete; the new tree planting is 75% complete; the new lighting is 98% complete. The northern branch (from Ngoc Hoi Intersection to Nguyen Xien Street) is over 4km long and has not yet been implemented due to land clearance problems. Mr. Cao Dinh Triet - Deputy Director of the Provincial Traffic Construction Investment Project Management Board said that the biggest problem in the southern branch of the Ring Road 2 Project is that it is not possible to build transformer station No. 3 to connect to lighting power due to land acquisition from a household in An Binh Tan Urban Area. In addition, there is also a phenomenon of subsidence of the elevation mark and the infrastructure that has been constructed on the southern branch. The Provincial People's Committee has issued a document requesting the company to carry out monitoring, evaluation and completion of technical treatment records, and adjust the design according to the technique. The southern branch still has 8 additional land acquisition records that have not yet been inventoried. The northern branch has 703 cases but only 20 cases (2.8%) have been approved. The biggest difficulty now is the resettlement land fund for the northern branch with a demand of up to about 500 lots, but currently the Vinh Thai Resettlement Area and Vinh Trung - Vinh Thai Resettlement Area have not completed the technical infrastructure, so there is no basis for building compensation land prices and resettlement land prices.

Committed to completing unfinished projects

Mr. Cao Dinh Triet said that in order to continue implementing the projects, Phuc Son Group Joint Stock Company needs to urgently have a written commitment on the following contents: Plans and plans for arranging capital sources to continue implementing the project; accompanied by documents to prove the bank's commitment to provide credit for the project to prove that the investor has sufficient financial capacity, including loans and equity. In addition, the investor needs to develop a plan and specific time to mobilize contractors, human resources, and machinery to complete the southern branch and implement the northern branch of the Ring Road 2 Project.

Branch N4 Ngoc Hoi Intersection connecting to the northern branch of Ring Road 2 cannot be constructed yet.

In a recent working session with the Provincial People's Committee, Mr. Hoang Quang Hung - Deputy General Director of Phuc Son Group Joint Stock Company pledged to continue investing in the company's unfinished projects in the province, focusing on the Ngoc Hoi Intersection and Ring Road 2 projects in the immediate future. According to Mr. Hung, the company's Board of Directors has appointed a representative office manager in Nha Trang City to act as a focal point to work with the Provincial People's Committee and departments and branches to speed up the procedures for restarting the project. The company has also worked with the bank to agree on some contents. After having an official document, the company will make a commitment to the Provincial People's Committee on its financial capacity to ensure the implementation of projects in the coming time. Mr. Tran Hoa Nam - Vice Chairman of Khanh Hoa Provincial People's Committee requested that in the coming time, the Provincial Traffic Construction Investment Project Management Board urgently presides over working with Phuc Son Group Joint Stock Company and the Department of Planning and Investment to complete the adjustment of the project feasibility report, extend the project implementation time, prove the investor's capacity... For the southern branch of Ring Road 2, it is necessary to urgently complete the remaining work to complete the handover procedures for the State management; for the northern branch of Ring Road 2, Nha Trang City People's Committee continues to implement compensation and site clearance work according to the new Land Law. Currently, Phuc Son Group Joint Stock Company has many unfinished projects in many provinces and cities, so the company needs to focus resources on the two projects of Ngoc Hoi Intersection and Ring Road 2, avoiding spreading capital sources, which is not effective. The company needs to clearly share its current situation and capabilities so that the Provincial People's Committee can understand and have a realistic plan during the implementation process.

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