Revenue is not enough to pay employee salaries, investor asks to return BOT suspension bridge project

After the Huong Thuong concrete bridge, the largest bridge in Thai Nguyen , was put into use, the Huong Thuong suspension bridge BOT project located right next to it fell into a slump, with revenue dropping severely, pushing the investor to the risk of bankruptcy.

Revenue is not enough to pay employee salaries

Huong Thuong suspension bridge is 116m long, 4m wide, and has a load capacity of 3.5 tons. It was invested in the form of BOT with a toll collection period of 17 years (2016-2034). Before the Huong Thuong concrete bridge was put into operation, the daily revenue of the suspension bridge was 5-6 million VND. However, currently, the number of vehicles passing through the bridge has decreased sharply, with revenue only about 500-600 thousand VND/day, equivalent to 10% compared to before.

Huong Thuong suspension bridge is located next to the largest concrete bridge in Thai Nguyen.

Mr. Nguyen Thanh Kieu, Chairman of the Board of Directors of Thai Nguyen Transport Construction Joint Stock Company II, said that the current revenue is not enough to pay salaries for 5 employees, not to mention the cost of paying capital, bank loan interest and bridge maintenance. The company has repeatedly proposed to move the suspension bridge to another location or return the project to the province, but so far it has not been resolved.

Huong Thuong suspension bridge is sparsely used by large vehicles but is still the choice of many locals because of its convenience. With a fee of 2,000 VND/trip for motorbikes and 15,000 VND/trip for cars, this is a better choice than having to go around the new concrete bridge.

The enterprise has repeatedly requested Thai Nguyen province authorities to help remove difficulties for the enterprise.

According to Giao thong Newspaper reporters, there is a toll collection point at the Huong Thuong suspension bridge in Tuc Duyen ward, Thai Nguyen city. People riding motorbikes here have 2,000 VND in hand and receive tickets to cross the bridge.

Nguyen Tien A., a student in Huong Thuong commune, said: "Every day I go to school via the suspension bridge. Even though it costs a fee, it is much more convenient."

However, according to records, only 1-2 cars pass the bridge every week, the number of motorbikes has also decreased significantly, making toll collection difficult.

The amount of traffic passing through the suspension bridge is not as much as before.

Investors request to return the project

Faced with the difficult situation, Thai Nguyen Transport Construction Joint Stock Company II has proposed to return the project to the People's Committee of Thai Nguyen City, but the government said that this is a contract signed with the province, and terminating the contract is not within the city's authority.

There were almost no cars moving across the bridge.

Mr. Truong Duc Tam, an expert from the Finance and Planning Department of Thai Nguyen City, confirmed that Thai Nguyen Transport Construction Joint Stock Company II had submitted a petition to the Provincial and City People's Committees. The company raised two issues and the Thai Nguyen City People's Committee responded in writing to the company.

People on both sides of the bridge still choose to go through Huong Thuong suspension bridge.

Mr. Doan Ba ​​Thu, Chairman of the People's Committee of Huong Thuong Commune, also confirmed that people on both sides of the bridge still need to use the suspension bridge, but it is not enough to ensure revenue. The city and province are still considering support plans for businesses, but have not made a specific decision.

Source: https://www.baogiaothong.vn/doanh-thu-khong-du-tra-luong-nhan-vien-nha-dau-tu-xin-tra-lai-du-an-cau-treo-bot-192241125155048148.htm