Series Of Construction Projects In Ho Chi Minh City Fail Because Of Rising Sand Prices

The HCMC People’s Committee has just sent a letter to the Ministry of Construction reporting the construction sand price fluctuations that affect the performance of construction contracts and supply and demand of construction sand in the city.

According to the People’s Committee, sand prices have increased over the past time has affected the investment situation of construction of many units.

Specifically, during the process of appraising design cost estimates of construction works, many investors have withdrawn the appraisal dossier to adjust the construction sand prices, which affect the time of preparation work of investment, the progress of project implementation as well as an implementation of a construction contract.

In addition, in the course of operation, some construction investors in the city area reflect the current increase in sand prices, which increases the cost estimates in the design drawings and cost estimates, making increase the total investment of the project. Forbidding packages during the bidding period, it may happen that the bidder’s participation exceeds the estimated cost of the approved bidding package and must be re-organized, thus affecting the progress of the project.

Construction project in Ho Chi Minh City disturbed by increased sand prices

Sand prices soar, Ho Chi Minh City proposed replacing with ash, slag

Therefore, the City People’s Committee proposed the Ministry of Construction to chair and coordinate with the Ministry of Natural Resources and Environment proposed the People’s Committee of the West, East and South provinces to direct the construction departments to coordinate with the Department of Finance Natural Resources and environment require enterprises to be licensed to exploit sand, support to increase the supply to HCMC to quickly stabilize the construction market of the city, coordinate Good handling in sand mining license, sand crash …

You can read more information at Vietnam Real Estate News

At the same time, the City People’s Committee also recommended the Ministry of Public Security, the Ministry of Industry and Trade to strengthen inspection organization in coordination with the local, prevent and handle cases of speculation, market manipulation, high rise in sand business activities in contravention of the law, in order to stabilize the current price of sand.

The Ministries concerned should approve the project to accelerate the treatment and use of ash, slag, plaster of thermal power plants, chemical plants, fertilizer as materials for the production of building materials and it works under the Prime Minister’s direction in Decision 452 / QĐ – TTG dated 12/4/2017.

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