CC1 - COTECCONS - FECON JOINT VENTURE SECURES 3.144 BILLION VND CONTRACT FOR LONG THANH AIRPORT PROJECT

Airports Corporation of Vietnam (ACV) has recently approved the contractor selection results for Package 11.5, "Construction, Equipment Installation, and Shop Drawing Design for the Parking Garage" of Component Project 3 - Essential Airport Facilities of the Long Thanh International Airport Construction Investment Project, Phase 1.

The consortium, comprising Construction Corporation No. 1 (CC1), Coteccons Construction JSC, and FECON Corporation, secured the contract with a winning bid of nearly VND 3.144 trillion, slightly lower than the estimated bid value of VND 3.2049 trillion (a 1.9% reduction). The contract duration is 16 months, starting from the commencement date, inclusive of holidays and regulated days off.

According to FECON, CC1 is the lead contractor, responsible for construction drawing design, construction execution, and equipment supply and installation. Meanwhile, Coteccons and FECON will focus on structural construction and other fundamental building works.

The Long Thành International Airport Construction Investment Project – Phase 1 has a total investment of approximately VND 109.111 trillion (equivalent to over USD 4.6 billion). This is one of Vietnam’s key national aviation infrastructure projects, playing a crucial role in the development strategy of the airport network, alleviating congestion at Tân Sơn Nhất Airport, and enhancing the country’s air transport capacity.

Phase 1 of the Long Thành International Airport Project includes several key components such as the passenger terminal, runways, aircraft aprons, air traffic control tower, and auxiliary facilities.

As of February 2025, the project has achieved significant milestones in site clearance and construction of major components. Construction packages are being accelerated to meet the target of completing Phase 1 and putting the airport into operation by December 31, 2025.

By the end of 2024, CC1 recorded a revenue of VND 10.157 trillion, an 81% increase compared to 2023, with a pre-tax profit of VND 324.7 billion, up 7.6%. The company’s total assets reached nearly VND 16.739 trillion by year-end.

For FECON, the company returned to pre-tax profitability in 2024, achieving VND 60.7 billion, with revenue of VND 3,374.6 billion (an increase of 17.2%). Additionally, at the end of 2024, FECON (in a consortium role) also won the Package for the construction of roads and overpasses at the DT994 intersection, part of the Bien Hoa - Vung Tau Expressway Connection Road Project, with a winning bid of VND 1,684.6 billion; Package 21 - Construction of the 60m planned cross-section (approximately 6.1km long, sections 1 and 2) and substations on the route, part of the To Huu Extended Road to Phu Bai Airport Project, with a winning bid of VND 583.2 billion.