QI/2020: FECON won new projects worth more than 650 billion dong

According to the business report in March, FECON has just won new projects with a total value of more than VND 650 billion, mainly infrastructure and industrial projects.

Despite the complicated outbreak of Covid-19 affecting the activities of many domestic and foreign enterprises, since early 2020, FECON has received optimistic business signals and won more new projects, Mr. Nguyen Van Thanh, CEO of FECON said.

The total value of new winning bids is about VND 650 billion in which two projects that FECON participated as main contractor are Vinh Tan Port Project in Dong Nai province, and Phuoc Dong Port Industrial Park and Port project in Long An province. The total revenue of these ones are expected to VND 250 billion.

Besides promoting infrastructure and industrial construction, FECON remains firmly as a leading contractor in the foundation and soil improvement with many upcoming projects as Lotte Mall Hanoi, Park City, GS Metro City Nha Be HCMC, Pho Dong Service and Commercial Apartment Building, etc. These projects are expected to contribute about VND 300 billion to the corporate revenue in 2020.

Recently, FECON has also won two wind power projects, Cau Dat Da Wind Plant and Thai Hoa Binh Thuan Wind Power Plant with total sales of over VND 110 billion as well as keep negotiating another big-size project with the goal of conclude the contract early in 2020. FECON expects to reach about VND 1,000 billion in revenue from wind power projects.

According to Mr. Thanh, FECON has reached about VND 1,900 billion while targeting more than VND 5,000 billion revenues in 2020.

The company's strategy for the next 5 years is to focus on industrial construction, renewable energy, urban infrastructure & FDI building construction projects; researching and developing investment projects including 2 wind power projects, 2 industrial park projects and 3 urban infrastructure projects. Those are expected to create sustainable values for FECON in 2020 and subsequent years.