FPL CONTINUES TO COOPERATE WITH VINGROUP AT THE PROJECT IN TUYEN QUANG

At the end of the third quarter of 2024, FPL signed a contract for the project "My Lam entertainment and resort area" located at My Lam mineral spring tourist area, My Lam ward, Tuyen Quang city with investor Vingroup. Accordingly, FPL undertakes the construction of test piles and mass piles for the Hotel (06 floors) - Public Service Area (30 hectares) with a Contract value of 9.5 billion VND. This project is part of Vingroup's master plan to develop the My Lam mineral spring tourist area into a prominent tourist destination in the region.

One of the great advantages of the project is the working environment at My Lam mineral spring resort, creating conditions for personnel to both focus on construction and have the opportunity to relax and restore health. However, this place also has difficulties typical of mountainous terrain that are detrimental to rock drilling construction, which leads to drilling taking longer than planned, risking construction delays. With this terrain, if there is rainy weather, it will cause mud at the construction site, making pile drilling even more difficult. In addition, to speed up the progress, the contractor proactively proposed to produce 52 meters in advance to have mass construction materials, and the pile combination is also more complex than other projects. These are difficulties that the project team has identified in advance and are ready to face with a firm and determined mind.

After successfully completing this item, FPL continues to be trusted by Vingroup to award 05 other small items, increasing the expected contract value to 11 billion VND. In the context of many difficulties in the construction market, this is considered a sign of improvement for FPL, and is also a stepping stone for FPL to receive LOA for more new projects in the upcoming 2025, helping the Company and staffs stabilize their jobs and maintain their position in construction.