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Gia Lai revokes hydropower investment licence

The Department of Planning and Investment of Gia Lai province has decided to withdraw the investment licence of la Krel Hydropower Plant due to violations of the Investment Law.
Gia Lai revokes hydropower investment licence ảnh 1A corner of the la Krel Hydropower Plant's construction site  (Source: baogialai.com.vn)


Gia Lai  (VNA) - The Department of Planning and Investment of the Central Highlands province of Gia Lai has decided to withdraw the investment licence of la Krel Hydropower Plant in Duc Co district due to violations of the Investment Law.

In 2008, the provincial People’s Committee granted an investment license for plant investor Bao Long Gia Lai Industries and Hydropower Joint Stock Company to implement the project, with total investment of about 120 billion VND (more than 5.1 million USD).

The 5.5MW hydropower plant was built in Duc Co District in late 2009 and began storing water in early 2013.    

                                                                    

However, during the process of construction, the investor was not fully qualified to implement the project in accordance with their commitments. It did not follow regulations on design and construction for the dam.

Even in 2013 and 2014, the two dam breakages occurred in the construction site, causing serious impact on the lives of locals.

The company was advised to build the dam during dry months between April and June, but it ignored this advice.

Local agencies were required to find out who was responsible for the breakages, in addition to estimating damage so locals could be compensated.

Based on the opinions of relevant authorities, the provincial Department of Planning and Investment informed that it will revoke the investment license for the project, and asked the investor to end all  activities related to the project and carry out asset liquidation.-VNA

VNA
#Gia Lai #Investment Law #la Krel Hydropower Plant #investment license #Bao Long Gia Lai Industries and Hydropower Joint Stock Company #dam breakage #asset liquidation #revoke #investment license #Vietnamplus #Vietnam News #Vietnam News Agency Gia Lai
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