ACV suffers bitter losses from Viethaus projectIrrational calculations at its largest outbound investment project, Viethaus, have brought remarkable losses to ACV, Vietnam’s largest airport operator. The Viethaus project was mired down in difficulties from the startThe Government Office has collected comments from the ministries of Foreign Affairs, Finance, and Planning and Investment on how to deal with the Viethaus project based in Berlin (Germany) of Airports Corporation of Vietnam (ACV). According to the Government Inspectorate, by the end of 2015, Viethaus project’s cumulative losses came to EUR13.4 million ($16.4 million). After three revisions, the project reported EUR9.41 million ($11.5 million) in total investment capital, of which the investors contributed EUR2.63 million ($3.2 million) (Sasco contributed $934,100 and Global Telecom $2.28 million). “Satsco is negotiating to close the cooperation deal with Sasco at the Viethaus project,” a source from ACV revealed.

Source: VietNamNet News May 01, 2018 16:18 UTC