Agribank auctions Can Gio Water Plant for 52.1 billion VND

Agribank Saigon Center Branch has announced an auction for the Can Gio Water Plant assets located in Binh Khanh, Ho Chi Minh City. The starting price for the auction is set at 52.1 billion VND.

The assets include 12,809 square meters of land use rights, valued at 49.3 billion VND, and a system of machinery for brackish water treatment and bottled water production, valued at 2.8 billion VND. This represents a significant decrease from an August 2025 announcement where the starting price was 103.5 billion VND. The total price has dropped by nearly 50%, with machinery values falling by approximately 74.6% due to degradation from prolonged non-operation and lack of maintenance.

The plant was originally established by Dang Doan Nguyen Joint Stock Company, chaired by singer Nguyen Thuy Dong Dao. The project, which initially required an investment of over 100 billion VND, reportedly faced losses of nearly 80 billion VND within its first four years of operation.