Freshwater Reservoir Capital Adjustment: Contract Value Continues to Rise

The freshwater reservoir project in Ca Mau province, a key component of Sub-project 8 aimed at coastal erosion control and water supply, is under scrutiny following an inspection by the Ca Mau Provincial Inspectorate. Initially contracted for over 197.5 billion VND, the project's value has ballooned to nearly 250 billion VND through four contract amendments. These adjustments were driven by the addition of new components like storage yards and internal roads, as well as changes in construction methods and design. However, the inspection highlighted significant irregularities, including the issuance of a dredging rate decision without proper authority and the premature payment of price fluctuation compensation for completed work. This situation raises concerns about financial management and oversight within the project, which is funded by the World Bank through ODA. The article details the progression of contract value increases, linking each amendment to specific additions or modifications. It also points to discrepancies in the bidding process, where the initial gói thầu (package) price was significantly lower than subsequent bids, necessitating adjustments to attract contractors. The project's timeline, starting in January 2022, is also noted.