Thanh Hóa proposes Prime Minister address two multi-trillion-VND projects left idle for a decade

Thanh Hóa Province has submitted a document to the Prime Minister requesting review and resolution of 17 projects facing major obstacles, including two multi-trillion-VND projects that have remained idle for more than a decade. In its report to the Prime Minister, the province grouped the 17 projects into six main obstacle categories, covering areas that require direction from central ministries.

Two long-idle projects highlighted

Among the 17 projects, two with total investment in the thousands of billions of VND are behind schedule and have been idle for over 10 years, leading to wasted investment resources and affecting the province’s economic and social development. The two projects are the Thanh Son Cement Plant and the Ho Xuan Hydropower project.

Thanh Son Cement Plant

The Thanh Son Cement Plant has total investment of over 1,474 billion VND. The project covers more than 36 hectares in Thúy Sơn commune, Ngọc Lặc district (now Ngọc Lặc commune), Thanh Hóa Province.

Thăng Long Investment and Trading JSC (Hanoi) was the investor. The project began in December 2007, with an expected operational date in Q1 2010. After approval, the investor cleared the site, built gates and fences, constructed the administration building, completed pile driving, and installed a 35 kV power line to support construction. However, the main cement production components had not yet been invested.

According to Thanh Hóa’s People’s Committee, the completed work was valued at about 400 billion VND. Due to difficulties in mobilizing capital, the project halted in late 2010.

After 16 years of idleness, the unfinished portions have deteriorated, and the project site has become wasteland with overgrown vegetation. The project was later placed on a deferral list for investment to a post-2015 period under a Prime Minister’s directive, but no specific restart timeline was set.

Based on these circumstances, Thanh Hóa’s People’s Committee asks the Prime Minister to direct the Ministry of Construction and relevant ministries to consider and advise on deferring the project, citing Official Letter No. 1592/TTg-KTN dated 28-8-2014, and to guide local authorities in addressing obstacles to avoid further resource waste.

Ho Xuan Hydropower project

The Ho Xuan Hydropower project is located on the upper Ma River in Hoi Xuan commune, Thanh Hóa. Construction began in March 2010, with expectations to dam the river and connect to the national grid by mid-2014.

The project was intended to make a significant contribution to the province’s economic and social development and to power supply for the Central region and the country. It is implemented by Ho Xuan Hydropower Investment and Construction JSC (under Vietnam Electricity Construction Corporation).

The project has total investment of 3,320 billion VND and covers 600 hectares. The plant’s capacity is 102 MW, with annual output of 432 million kWh.

However, after 16 years, the project has not been completed. Thanh Hóa’s People’s Committee states that the project has been suspended since late 2017 due to the investor’s inability to arrange funds.

Deputy Prime Minister meeting and proposed solution

On 10 December 2025, Deputy Prime Minister Ho Đức Phớc chaired a meeting to hear proposed solutions. Based on opinions from ministries and local authorities, the Deputy PM instructed the Ministry of Finance to lead and coordinate with relevant units to carry out tasks to organize the sale of mortgaged assets from the project in order to recover government debt.

Local request to central authorities

Following the meeting, Thanh Hóa’s authorities have requested the Prime Minister and the Ministry of Finance to promptly organize the sale of mortgaged assets from the Ho Xuan Hydropower project to recover capital in accordance with regulations.