Binh Phuoc Ethanol Plant costing $11.25M annually despite being mothballed

In Vietnam, the VN Express newspaper reports a State Audit Agency report shows that despite the Binh Phuoc Ethanol Plant shutting down more than seven years ago, the defunct facility is still accruing $11.25 million per year in costs. More than $5.12 million is spent annually on loan interest for the non-functional plant in addition to $3.84 million in depreciation and another $2.22 million in maintenance. The agency found extensive irregularities in the failed project including excessive consultancy fees and more than $37 million in equipment costs that didn’t have any bidding history behind their purchase.