FECON AWARDED NEW CONTRACTS VALUED AT NEARLY VND 1,700 BILLION

In Q4 2024, FECON won a series of new contracts for new projects, with a total value of nearly VND 1,700 billion.

Despite facing the challenges of the construction market in 2024, FECON (Stock Code: FCN) has continued to win numerous new contracts in Q4, particularly in the infrastructure and civil construction sectors.

Specifically, the FECON – Long Hải joint venture has been awarded a contract for Phase 1 of the Mỹ Thủy Port project in Hải Lăng District, Quảng Trị Province. The contract includes the construction of wharf structures, dredging, and revetment works for Berths No. 1 and No. 2, with a total value of VND 654 billion. This is a key maritime infrastructure project developed by Mỹ Thủy International Port Joint Venture JSC, with a total investment of VND 5,902 billion, scheduled for implementation from 2024 to 2027.

Additionally, FECON, in collaboration with Đạt Phương Group JSC and Phương Thành Transport Construction and Investment JSC, has secured the road and overpass construction package at the ĐT994 interchange, part of the Biên Hòa – Vũng Tàu Expressway connection project. The package is valued at VND 1,684 billion, with FECON’s scope of work estimated at over VND 150 billion.

Furthermore, FECON has won the contract for the construction of cement deep mixing (CDM) piles at the extended Tố Hữu Road project leading to Phú Bài Airport (Huế), contributing over VND 120 billion in revenue within the project's total value of VND 583 billion.

Rendered Perspective of the Biên Hòa – Vũng Tàu Expressway Connection Project

In addition to the major contracts mentioned above, FECON has continuously secured other large-scale contracts worth hundreds of billions of Vietnamese Dong. These include: The ground treatment package for the Đồng Văn 3 Industrial Park project, valued at VND 220 billion; The VSIP Vĩnh Thanh I Industrial Park project (Cần Thơ), worth VND 70 billion; The Long Thành Airport fuel storage facility project, valued at VND 118 billion; The Phase 1 development of the Coal Industry Urban Infrastructure Project in Quảng Ninh, with a total contract value exceeding VND 205 billion; The Office and Commercial Center Complex project at Lot B3-CC2A, Tây Hồ Tây Urban Area (Hà Nội), with a contract value of VND 136 billion.

Moreover, FECON’s subsidiaries have also secured multiple contracts for design, geotechnical surveying, and monitoring services from major clients such as Toshin, Vingroup, and Hòa Phát, with a total contract value of approximately VND 200 billion.

With a series of newly awarded contracts, FECON’s total ongoing contract value for 2024 has surpassed VND 3,500 billion. This provides a strong foundation for the company’s optimistic financial outlook for 2024 and its expected recovery in 2025 after several challenging years in the construction market.

According to PetroVietnam Securities Incorporated (PSI), FECON’s substantial order backlog will continue to be a key driver of its growth in the coming years. Since the beginning of the year, the company has been actively executing multiple major projects, including Hà Nội Metro Line 3, Lạch Huyện Port (Berths 5 and 6), the Quảng Ninh Provincial Police Headquarters, the Phủ Lý Railway Overpass, and the Headquarters of the Department of Security Investigation – Ministry of Public Security. These high-priority projects are expected to contribute significantly to FECON’s revenue in 2024 and 2025.

FECON commences construction of Lạch Huyện Port (Berths 5 & 6) in Hải Phòng

In November 2024, FECON Hòa Yên Joint Stock Company (a subsidiary of FECON Invest Joint Stock Company) obtained investment approval for the Hòa Yên Industrial Park Infrastructure Development and Business Project in Bắc Giang Province. The project spans over 256 hectares across Đông Lỗ Commune (Hiệp Hòa District) and the communes of Tiên Sơn, Trung Sơn, Hương Mai (Việt Yên Town). With a total investment exceeding VND 3,700 billion, the project is set to operate for 50 years from the date of investment approval.

In addition to the Hòa Yên Industrial Park, FECON is currently developing two other real estate projects: Danh Thắng - Đoan Bái Industrial Cluster: Covering 75 hectares in Đoan Bái and Danh Thắng Communes (Hiệp Hòa District, Bắc Giang Province), with a total investment of approximately VND 1,022 billion; Nam Thái Urban Area: Located in Phổ Yên, Thái Nguyên, spanning 24.68 hectares, with an investment of approximately VND 2,097 billion. Both projects are expected to be launched in 2025, further strengthening FECON’s position in the industrial and urban development sectors.