On 24/9, the Ministry of Public Security announced that the Police Department for Investigating Corruption, Economic and Smuggling Crimes (C03) had prosecuted Ta Quang Buu, former member of the Members' Council and deputy general director of Vicem; Tran Binh Trong and Nguyen Lam Cuong, both former deputy general directors of Vicem; and Doan Thi Mai Lan, former head of the economics and estimation department of Vietnam Construction Consulting Corporation. They are being investigated for "violations of regulations on management and use of state assets, causing loss and waste" under Clause 3, Article 219 of the Penal Code.

C03 is currently consolidating documents and evidence related to the violations of the accused, expanding the investigation, and implementing measures to fully recover assets for the state.

In the same case, on 5/4, C03 prosecuted Le Van Chung, former chairman of the Members' Council of Vicem, along with three subordinates: Nguyen Ngoc Anh (former general director), Du Ngoc Long (former director of the Project Management Board), and Hoang Ngoc Hieu (former head of the Appraisal Department). They are also being investigated for "violations of regulations on management and use of state assets, causing loss and waste."

The abandoned project occupies prime real estate on Pham Hung Street. Photo: Hoang Giang

The abandoned project occupies prime real estate on Pham Hung Street. Photo: Hoang Giang

Initially, the accused were implicated in wrongdoing while preparing documents for the Vicem Trade and Operations Center project at lot 10E6, Cau Giay Urban Area, located on Pham Hung Street. The project, with an investment of 1,245 billion VND, allegedly incurred severe losses and waste of state assets due to numerous violations during its implementation.

The prosecution stems from a National Assembly resolution on promoting thrift and combating waste, under the direction of General Secretary To Lam.

Vicem invested in the Vicem Tower in 2010 on a nearly 8,500 m2 plot, with a construction area of 2,800 m2. The 31-story tower with four basement levels was initially budgeted at 1,951 billion VND, later adjusted to 2,743 billion VND in 2011. The investment aimed to build offices for Vicem and its member units, an auditorium, and commercial services.

Construction began in 2011. After completing the foundation and the main structure, the project has been on hold since August 2015.

Vicem subsequently made several requests to the Ministry of Construction for permission to develop a plan and seek partners to transfer the tower for capital recovery. The Ministry of Construction reported to the Prime Minister, who approved the transfer in 3/2017. However, the transfer was unsuccessful due to legal obstacles related to investment, land, and the arrangement and handling of state-owned land and assets.

Vicem, formerly the Union of Cement Enterprises, manages cement plants nationwide. Currently under the Ministry of Construction, the 45-year-old corporation manages 10 plants across the country with 16 production lines, boasting a capacity of 20 million tons of clinker and 27 million tons of cement annually.