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

In the fourth quarter of 2024, FECON won a series of new contracts totaling nearly VND 1,700 billion.

In the fourth quarter of 2024, FECON won a series of new contracts totaling nearly VND 1,700 billion.

Specifically, the FECON – Long Hai joint venture secured the My Thuy Port (Phase 1) project in Hai Lang District, Quang Tri Province. The contract covers the construction of structural works and quay retaining walls No. 1 and 2, with a total value of VND 654 billion. This is a key maritime infrastructure project developed by My Thuy 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 Dat Phuong Group JSC and Phuong Thanh Transport Construction and Investment JSC, has secured the road and overpass construction at the DT994 interchange, part of the Bien Hoa – Vung Tau 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) technology at the extended To Huu Road to Phu Bai Airport (Hue), contributing over VND 120 billion in revenue within the project's total value of VND 583 billion.

Rendered Perspective of the Bien Haa – Vung Tau Expressway Connection Project

In addition to the major contracts mentioned above, FECON has continuously secured other large-scale contracts worth hundreds of billions of VND. These include: Dong Van 3 Industrial Park project, valued at VND 220 billion; The VSIP Vinh Thanh I Industrial Park project (Can Tho), valued at VND 70 billion; The Long Thanh Airport fuel storage facility project (Dong Nai), valued at VND 118 billion; Ha Khanh Urban Area (Quang Ninh), valued at VND 205 billion; The Office and Commercial Center Complex project at Lot B3-CC2A, Tay Ho Tay Urban Area (Hanoi), valued at 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, Vin Group, and Hoa Phat, with a total contract value of approximately VND 200 billion.

With a series of new contracts, FECON’s total ongoing contract value for 2024 has surpassed VND 3,500 billion. This provides a strong foundation for the company’s 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 sustainable order backlog will remain 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 Metro Line 3 (Hanoi), Lach Huyen Port - Terminal No. 5 and 6 (Hai Phong), the Quang Ninh Provincial Police Headquarters, the Phu Ly Railway Overpass (Ha Nam), and Department of Security Investigation – Ministry of Public Security (Hanoi). These high-priority projects are expected to contribute significantly to FECON’s revenue in 2024 and 2025.

FECON commences construction of Lach Huyen Port (Berths 5 & 6) in Hai Phong

In November 2024, FECON Hoa Yen Joint Stock Company, a subsidiary of FECON Invest Joint Stock Company, received investment approval for the Hoa Yen Industrial Park Infrastructure Development and Business Project in Bac Giang Province. The project covers over 256 hectares across Dong Lo Commune (Hiep Hoa District) and the communes of Tien Son, Trung Son, and Huong Mai (Viet Yen Town). With a total investment of over VND 3,700 billion, the project is approved for a 50-year operational period from the date of investment approval. In addition to the Hoa Yen Industrial Park, FECON is currently developing two other real estate projects: Danh Thang - Doan Bai Industrial Cluster: Covering 75 hectares in Đoan Bai and Danh Thang Communes (Hiep Hoa District, Bac Giang Province), with a total investment of approximately VND 1,022 billion; Nam Thai Urban Area: Located in Pho Yen, Thai Nguyen, scale of 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.