VietinBank reduces auction price for Tanifood Tay Ninh plant

VietinBank Tay Ninh branch is auctioning the Tanifood Tay Ninh agricultural processing plant to recover debts. The starting price for the assets has been reduced to 703 billion VND, a decrease of approximately 42% from the initial auction price of over 1.2 trillion VND set in May.

The assets being auctioned include land use rights, construction works, and the entire system of production lines, machinery, and equipment located on a 14.29-hectare site in Thanh Duc commune, Tay Ninh province. The auction requires a deposit of over 35 billion VND.

The Tanifood plant serves as collateral for a loan provided to Lavifood, a company identified as being linked to Truong My Lan in the Van Thinh Phat case.