In fact, many steel companies to produce moderate, with plants operating only 40-45% capacity, even if only 20% of capacity.
Investment ineffective
About ten years ago, Hai Phong proud "of steel production center" of the country. But in fact, in addition to a number of well-known enterprises such as Vietnam - Japan, Vietnam - Australia, Posco, ... small number of remaining capacity (300-500 thousand tons / year), approximately 1,000 invested billion), the old lines, lack of synchronization, import prices "liquidation", only for construction steel products . When the construction market is sluggish production of steel enterprises in crisis immediately. Investment rampant, unplanned causing serious imbalances. The construction steel products, steel pipes are usually over-investment, demand far exceeded ... This caused many factories to stop production or manufacturing moderation, steel products inventory to 500 thousand tons, the cost of interest paid to the bank every month hundreds of billion, while sales at below cost price .
Van Loi Steel JSC is a typical example. 5 years ago, the scale of Van Loi is envisioned as a large group, with 14 member companies, annual sales reached about 10 trillion by 2012, reaching a billion dollars. Currently, Van Loi Steel Company is the debtor's remaining six credit institutions, with more bad debt, great value. At the end of 2012, Van Loi Steel Company has ceased production and is located in the area of supervision and management of the bank.
Van Loi Also can not forget to Dinh Vu Steel Joint Stock Company, after several years to produce this compact continuous losses. Reportedly, 70% of the shares of the Company was forced to transfer to a corporation's investment in Australia, but production is still not much more than before. But Delta Vinashin Steel Joint Stock Company enter into these situations, "covering projection". Song Da Steel Joint Stock Company (a member of Vietnam - Italy Steel), although there are quite modern technology, but currently not running at full capacity.
Many other sectors arm and
Estimates of short-term and long-term debt of steel enterprises in Hai Phong more than 5 trillion, which, primarily loans, bad. The bank could not squeeze debt because lenders time, the evaluation of project performance, equipment manufacturers, ... no skills, many obsolete equipment, low power. If the debt squeeze, do not know anyone was selling necklaces to payback.
The inadequacies of the steel industry was caused by the lack of strong governing body to allow big investment in this sector.
As leaders of the commercial banks, debt companies in Hai Phong huge steel. A large number of debts due to the bank branch designated parent lending investment projects. There are up to 5-6 business loans held by credit and bank loan financing. Many banks have stopped for the steel production business loan. The bank loans are also strict requirements for collateral, for example, is now director of the mortgage to the property value of your home, such as home, car, gold ... The asset sales mortgage industry has previously used such as workshops, equipment, or the steel products are accepted by banks. Not only bank debt, some steel companies owed electricity, social security billions. In structural steel product prices, electricity costs account for a significant portion. By this time, alone 3 steel company owes the city more than 23 billion electricity industry: Van Loi Steel JSC Electric 15.38 billion debt; Dinh Vu Steel Joint Stock Company 7.68 billion debt USD; Steel JSC Delta 443 million debt. What worries that electricity is now likely soon recover production and profit, the money to pay the electricity sector seems to be very far away. Furthermore it is not the amount of priority groups if the business went bankrupt.
Along with electricity arrears, Company Limited Hai Phong Power still sue to steel companies to court to claim damages for the power projects that the company has undertaken to supply electricity to This business contract signing. It is known that, in recent years, Hai Phong Power has started construction of a transmission line and substations, especially substations 110 kV power supply for the customers to use high-capacity, investment value of up to hundreds of billions. However, after the work is done, this business has no schedule or use power, power committed in the power purchase agreement. Meanwhile, the company still has to pay interest every month, wasting public money without knowing the demand is ever new.
The steel business to suffer, and risk involves all other sectors. But the problem of the development of the steel industry is still difficult because the steel factory continued to build.
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