HUNG THINH CORPORATION AND DEOCA GROUP INVEST IN TAN PHU - BAO LOC EXPRESSWAY PROJECT

For 3 months after Hung Thinh Corporation and Deoca Group signed a strategic cooperation to develop in the construction and infrastructure sectors. The pre-feasibility study report of Tan Phu - Bao Loc expressway construction investment project of this consortium was selected by Party Committee of Lam Dong province.

The Standing Party Committee of Lam Dong province had a meeting to listen to the consortium of investors including Deoca Group, Hung Thinh Corporation, Nam Mien Trung Group Joint Stock Company the pre-feasibility study report on Tan Phu - Bao Loc expressway construction investment project under the public-private partnership (PPP) form.
 

Based on the local development plan, Party Committee of Lam Dong Province agreed to choose alignment 1 of Tan Phu - Bao Loc expressway construction investment project under the report and proposal of the consortium of investors to take the following steps as regulated.
 
 

At the same time, Party Committee of Lam Dong Province also assigned the consortium of investors to continue surveying, researching and proposing investment in Bao Loc - Lien Khuong expressway project.
 
 

Dau Giay - Lien Khuong - Da Lat expressway has total length of 208 km with the scale of 4 lanes, is in the development planning of Vietnam expressway network until 2020, with a vision to 2030. Currently, the 19-km section from Prenn pass to Da Lat city has been completed.
 
 

At the time of 2014, the Ministry of Transport calculated that the entire Dau Giay - Lien Khuong expressway needs VND 65,000 billion if fully invested in a 4-lane highway, a 25m cross section with total length of nearly 200km.
 
 

Therefore, the Ministry of Transport assigned the agency to prepare pre-feasibility study report on component projects by the following sections: Dau Giay - Tan Phu, Tan Phu - Bao Loc, Bao Loc - Lien Khuong, propose the use of the State’s support capital in the medium-term public investment plan for 2021-2025 period.
 
 

By January 2021, the People's Committees of Lam Dong and Dong Nai provinces sent a written report to the Prime Minister on proposing an investment plan of 67km long Tan Phu - Bao Loc section under the public-private partnership (PPP) form, with total investment of about VND 18,200 billion. The People's Committees of two provinces above proposed to assign the People's Committee of Lam Dong province to be the competent State agency to organize the project implementation.
 
 

On February 4, the Government Office issued announcement No. 24/ TB - VPCP on announcing the conclusion of Prime Minister Nguyen Xuan Phuc at the meeting on the implementation of Tan Phu - Bao Loc expressway project.
 
 

Accordingly, the Prime Minister agreed in principle to assign the People's Committee of Lam Dong province to be the competent agency to organize the implementation of Tan Phu (Dong Nai) - Bao Loc (Lam Dong) expressway construction investment project for 2021-2025 period under PPP form, with the State's capital contribution.
 
 

As for the consortium of investors, including 3 units: Deo Ca, Hung Thinh, Nam Mien Trung, If Nam Mien Trung is a closed group, Deo Ca and Hung Thinh are quite prominent for recent times.
 
 

Most recently, on February 22, the Board of Directors of Hung Thinh Incons Joint Stock Company (a member company of Hung Thinh Corporation) passed the resolution on electing Mr. Ho Minh Hoang as an independent member of the Board of Directors to hold the position of Vice Chairman of the Board of Directors.
 
 

Board of Directors of Hung Thinh Incons consists of 6 members, Mr. Nguyen Dinh Trung holds the position of Chairman of the Board of Directors, Mr. Ho Minh Hoang and Mr. Truong Van Viet hold the position of Vice Chairman of Board of Directors. Thus, Mr. Ho Minh Hoang is the Chairman of the Board of Directors of Deoca Group and concurrently holds the position of Vice Chairman of the Board of Directors of Hung Thinh Incons.
 
 

Previously, on December 31, 2020, Hung Thinh Corporation and Deoca Group signed a strategic cooperation to develop in construction and infrastructure sectors.
 

In the same day, Deoca Group and Hung Thinh Incons, the general construction contractor of Hung Thinh Corporation signed a cooperation agreement on expanding the market from civil and industrial construction to infrastructure, transport, basic building materials and new material technology.
 
 

Two enterprises will cooperate in technology transfer, experience in construction and construction management, and develop technology in construction, installation and infrastructure sectors.
 

Specifically, two Parties will apply joint venture, bidding association, investment and construction of infrastructure projects and construction projects, and expand the research on projects of artificial building materials in the future.