Ministry clarifies POSCO E&C issues
The Ministry of Transport (MoT) has not received any official
information relating to news reports that steelmaker POSCO Engineering
and Construction (E&C) of the Republic of Korea was implicated in
the creation of a slush fund in a construction project in Vietnam,
Deputy Transport Minister Nguyen Hong Truong has said.
The Ministry of Transport (MoT) has not received any official
information relating to news reports that steelmaker POSCO Engineering
and Construction (E&C) of the Republic of Korea was implicated in
the creation of a slush fund in a construction project in Vietnam,
Deputy Transport Minister Nguyen Hong Truong has said.
Talking to the Vietnam News Agency reporter about the issue, the Deputy Transport Minister said the MoT only knew what the foreign media had reported.
RoK media and some Vietnamese newspapers have recently carried a number of headlines about the arrest of a former POSCO E&C executive. He is suspected to have created a slush fund to pay sub-constructors between 2009 and 2012, when he was leading the Vietnam project as its overseas unit chief.
Deputy Minister Truong said that POSCO E&C was in charge of three construction packages of the Noi Bai-Lao Cai Expressway, which was funded by the Asian Development Bank (ADB).
He said that all bids for the 1.2 billion USD expressway's eight construction packages, which were implemented between 2009 and 2014, were held following international regulations and supervised by international donors.
"All processes were implemented and inspected carefully. The State Inspectorate has also studied the projects and is yet to find anything suspicious," he said.
The MoT has not interfered into payment methods between the contractor and its sub-contractors given these are their rights, the Deputy Minister said.
He affirmed that the Vietnamese Government has paid special attention to the combat against corruption in State agencies.
The MoT has asked the Vietnam Expressway Corporation, which was tasked to act as the Noi Bai-Lao Cai Expressway project developer and manager, to check all contracts and payment-related regulations involving POSCO-involved construction packages and make them available when needed.
Earlier, Korean media said a number of POSCO executives managing construction units in the expressway project had established a slush fund worth about 200 billion VND by shaking hands with local sub-contractors to exaggerate construction cost during the 2009-2012 period.-VNA
Talking to the Vietnam News Agency reporter about the issue, the Deputy Transport Minister said the MoT only knew what the foreign media had reported.
RoK media and some Vietnamese newspapers have recently carried a number of headlines about the arrest of a former POSCO E&C executive. He is suspected to have created a slush fund to pay sub-constructors between 2009 and 2012, when he was leading the Vietnam project as its overseas unit chief.
Deputy Minister Truong said that POSCO E&C was in charge of three construction packages of the Noi Bai-Lao Cai Expressway, which was funded by the Asian Development Bank (ADB).
He said that all bids for the 1.2 billion USD expressway's eight construction packages, which were implemented between 2009 and 2014, were held following international regulations and supervised by international donors.
"All processes were implemented and inspected carefully. The State Inspectorate has also studied the projects and is yet to find anything suspicious," he said.
The MoT has not interfered into payment methods between the contractor and its sub-contractors given these are their rights, the Deputy Minister said.
He affirmed that the Vietnamese Government has paid special attention to the combat against corruption in State agencies.
The MoT has asked the Vietnam Expressway Corporation, which was tasked to act as the Noi Bai-Lao Cai Expressway project developer and manager, to check all contracts and payment-related regulations involving POSCO-involved construction packages and make them available when needed.
Earlier, Korean media said a number of POSCO executives managing construction units in the expressway project had established a slush fund worth about 200 billion VND by shaking hands with local sub-contractors to exaggerate construction cost during the 2009-2012 period.-VNA
You should also see
PM visits police command centre, checks cultural centre construction in Phu Tho
Prime Minister Pham Minh Chinh visited the command and control centre of the Phu Tho police and examined the construction of this northern province’s house of culture and arts on April 18.
See more
Society
Dien Bien Phu Victory echoes, 70 years on
Seventy years ago, Vietnam won the Dien Bien Phu battle, forcing the French government to sign the Geneva Agreement in July 1954 and marking the end of the French military presence in the whole Indochina.
Society
InfographicQuang An listed among the coolest streets in the world
Quang An Street in Tay Ho district, Hanoi, has been listed among the 30 coolest streets in the world by the British travel magazine Time Out.
Politics
Prime Minister pays tribute to legendary founders of Vietnam
Prime Minister Pham Minh Chinh on April 18 attended a ceremony to offer incense to Vietnam’s forefathers Hung Kings at Hung Temple in Phu Tho province on the occasion of the Hung Kings’ Commemoration Day, which falls on the 10th day of the third lunar month every year.
Society
Overseas Vietnamese in Laos, France, Irsarel commemorate Hung Kings
The General Association of Vietnamese in Laos and the Vietnamese Association in Vientiane on April 18 held a ceremony to observe the commemorative anniversary of the Hung Kings, the legendary nation founders.
Society
Activities held nationwide to commemorate Hung Kings
Localities across Vietnam held activities in commemoration of the Hung Kings, the legendary founders of the country, on April 18 or the 10th of the third lunar month.
