The Power of Lizen: Consistently Winning Massive Bids

Lizen has achieved a significant milestone by successfully deploying and implementing major high-speed construction projects in 2023. The company's revenue has reached 2,030.5 billion VND, which is twice the amount compared to 2022. However, the post-tax profit has reached its lowest point in the past 6 years, dropping down to only 118.3 billion VND.


Lizen continuously won multi-billion contracts in 2023. Illustrative Photo.

Within the last 4 months of 2023, Lizen Corporation (MCK: LCG) continuously announced winning multi-billion contracts.

Specifically, in August 2023, Lizen led the joint venture to sign the Construction Contract of the package No. 21 Construction for the section from Km6+200 – Km16+000 of the first phase of the investment project of Bien Hoa – Vung Tau expressway. The contract value was signed at 1,411 billion VND.

In October 2023, Lizen announced the winning of the package No. 01 Construction for the project component 2.2 Construction of parallel roads (urban roads) in Hung Yen province, part of the investment project of Ring Road 4 – Hanoi Capital area. The contract value of this package was 1,253 billion VND.

In November 2023, it was revealed that the consortium Tan Phuc – Vong Phan – was selected as the contractor to implement the package No. 01 Construction, installation of the project “Tan Phuc – Vong Phan road” (DT.378), Hung Yen province. The value of this contract was 2,049 billion VND, of which Lizen’s value was 845 billion VND, accounting for 41.2% of the total value of the package.

In addition, Lizen was evaluated as one of the infrastructure construction companies benefiting directly from the government’s public investment wave. During the past time, this company has won bids for several large-scale public investment projects, especially packages in the component projects of the North – South highway.

For example, the Vung Ang – Bung expressway project with a total length of 23.53km, the contract value was 5,400 billion VND; of which Lizen contributed 25% of the capital and is expected to be completed in 2025. The Vân Phong – Nha Trang expressway project with a scale of 4,700 billion VND; of which Lizen contributed over 58.4% of the capital and is expected to be completed in 2025.

In September 2023, this company completed the main items of the National Highway 45 – Nghi Son expressway project with a scale of 1,194 billion VND and basically completed the entire construction in October 2023.

Lizen’s financial strength when winning huge contracts

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