Binh Ha cattle farming project in Ha Tinh to be auctioned

The Binh Ha cattle farming project in Ha Tinh province is being auctioned to recover bank loans following years of operational failure and legal issues. The civil judgment enforcement agency of Ha Tinh province, in coordination with Truong Thinh Partnership Auction Company, will auction all collateralized assets on October 29.

The assets for sale include livestock sheds, production machinery, equipment, office buildings, staff housing, vehicles, and various auxiliary items located in Cam Xuyen and Ky Van communes. The starting price for the entire asset block is set at over 280 billion VND.

Originally approved in 2015 with an investment of over 4,500 billion VND, the project aimed to raise 254,000 cattle annually across more than 2,000 hectares. However, actual production reached only about 15,000 cattle per year, approximately 6% of the intended scale. The project has been plagued by losses and legal scandals, resulting in the prosecution and imprisonment of several company leaders and bank officials involved in the lending process. Operations effectively ceased in 2017.