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Monday, October 3, 2022

FECON wins tenders worth over VND500 billion

The Saigon Times

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HCMC – FECON Corporation (FCN) has announced that it won many tenders worth over VND500 billion early this month.

They include a VND418-billion package to construct the foundation and infrastructure at Nhon Trach 3 and 4 thermal power projects in Nhon Trach District, Dong Nai Province.

These two power projects, invested by PV Power, are part of the national power development plan VII. They have a capacity of 1,500 megawatts and require an estimated investment of US$1.4 billion.

The projects will be able to supply some nine billion kilowatt hours of electricity to the national grid once they are put into operation in 2024-2025.

FECON has also won tenders worth over VND100 billion to drive piles and build fences of the Nam Hung hotel project and an office, commercial and residential complex in the An Hung New Urban Area.

In late March, a consortium of FECON, Vinaconex and Hanoi Construction Corporation won a package worth VND410 billion in the Long Thanh International Airport project. A FECON representative said the corporation is looking to win more packages of this big-ticket airport project.

In addition, a package to reinforce the foundation of a general cargo port and another package to drive piles to build the foundation of the Hoa Phat-Dung Quat steel complex contributed VND232.7 billion to FECON’s revenue in the first quarter of this year.

On April 28, FECON will hold its annual meeting. The corporation will seek approval from its shareholders for the consolidated revenue and after-tax profit targets of VND5 trillion and VND280 billion, up 44% and 250% over 2021, respectively.

Today, April 13, FCN rose 3.54% at VND29,250.

On the Hochiminh Stock Exchange, with 331 advancers and 126 decliners, the VN-Index soared 21.95 points, or 1.51%, to reach its intra-day high of 1,477.2 points.

Some 674.8 million shares worth over VND22 trillion were traded. Block deals contributed nearly VND2.5 trillion to the total.

On the Hanoi exchange, the HNX-Index added 6.44 points, or 1.53%, at 427.45 points. The northern bourse saw 90.6 million shares worth nearly VND2.7 trillion changing hands.

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