Ex-PetroVietnam Chairman to Be Prosecuted for Phú Thọ Ethanol Case

(The Star) The Ministry of Public Security’s Security Investigation Agency has proposed prosecuting Đinh La Thăng, former Chairman of the Vietnam Oil and Gas Group (PetroVietnam) and nine accomplices on charges of violating regulations on construction works, causing serious consequences at the Petrochemical and Bio-Fuel JSC (PVB) – a subsidiary of this group. According to the investigation, Thăng signed a decision approving an ethanol factory project in the northern province of Phú Thọ.

A year later, PetroVietnam established a steering committee led by Thang to launch bio-fuel projects.

PVB later invited bidding for a package TK05 named “Design, procurement, supply of equipment and construction of ethanol factory in the north”.

Though six contractors were unqualified, Thang and his subordinates signed many documents directing the joint venture PVC/Alfta Laval/Delta-T to join the project.

During the implementation, the project was forced to suspend in March 2013 due to the joint-venture’s poor capability, resulting in a State budget loss of over VNĐ540 billion (US$23.4 million).

PVB’s former General Director Vũ Thanh Hà and former deputy head of the project's investment office Nguyễn Xuân Thủy were also found to have committed violations in the case.

In 2018, Thăng was given a total of 30 years in prison for his involvement in two other cases at PetroVietnam. READ MORE

Defunct ethanol plant losing millions of dollars a year (Microsoft News)