QL15D segment from National Road 1 to Cam Lo – La Son Highway (Photo: Bao Dau Tu)
The People’s Committee of Quang Tri province has issued a letter of approval for the Consortium of Hoanh Son Joint Stock Company – Phonesack Vietnam Co., Ltd. – Nam Tien Co., Ltd. to prepare a feasibility study report for the QL15D project, which runs from National Road 1A to Ho Chi Minh Highway branch in the west of Quang Tri province.
The submission deadline is 3 months from the date of approval from the People’s Committee of Quang Tri province. After this period, if the Consortium is assigned to prepare the project proposal but fails to submit the required documents, this letter will become invalid.
QL15D is a road connecting My Thuy seaport to the La Lay international border gate, linking the coastal area of Central Vietnam with the southern region of Laos and eastern Thailand. The project is approximately 92km long and consists of 5 segments.
Segment 1, from My Thuy seaport to National Road 1, with a length of about 14km, has been invested with a Class III road standard, 2 lanes. Segment 4 runs parallel to Ho Chi Minh Highway, with a length of about 24km, also with a Class III road standard, 2 lanes. Segment 5, from Ho Chi Minh Highway to La Lay border gate, is about 12km long and already has an existing road with a Class IV-VI mountainous road standard.
The remaining 42km will be newly constructed and have not been invested in yet. It includes Segment 2, from National Road 1A to Cam Lo – La Son Highway, with a length of 8km, and Segment 3, from Cam Lo – La Son Highway to Ho Chi Minh Highway branch in the west, with a length of 34km.
According to information from VOV, these two segments have been researched and calculated by Quang Tri province and the Ministry of Transport to ensure the exploitation needs, and be in line with the overall planning. The total investment for the 42km is 6,800 billion VND.
Who are the 3 investors?
Among the 3 investors, Hoanh Son Joint Stock Company is a diversified group that operates in various fields such as cement and mineral trade, construction and investment, maritime services, maritime transport of goods by road from neighboring countries such as Laos and Indonesia, stone, sand, gravel, clay mining, fertilizer production, and solar energy…
The company was established by Mr. Pham Hoanh Son (also known as Son “Xay xat”)- Chairman of the Board of Directors in 2001, with its headquarters located in Ha Tinh province, Vietnam. According to the introduction on their website, Hoanh Son’s total assets are approximately 250 million USD, annual revenue is 180 million USD, and it has over 2,000 employees.
The current charter capital of Hoanh Son is 2,000 billion VND. In October 2018, Hoanh Son’s charter capital was 1,000 billion VND, with a shareholder structure consisting of Mr. Pham Hoanh Son owning 95%, Ms. Nguyen Thi Hang Nga owning 4%, and Ms. Luu Thi Duyen owning the remaining 1%.
Chairman Pham Hoanh Son
Hoanh Son invests in billion-dollar construction projects such as the water supply project for the Vung Ang Economic Zone (4,415 billion VND), Hoanh Son International General Port (nearly 1,500 billion VND), Hanoi – Nghe An Brewery (1,200 billion VND), etc. Recently, Hoanh Son Corporation proposed to Ha Tinh province a survey and implementation of the real estate project on both sides of Ham Nghi Street in Ha Tinh City and Thach Ha District.
Notably, this land area was previously planned as an urban area with a total investment of about 23,545 billion VND by Vinhomes Joint Stock Company (Vingroup) and Viet An Investment & Business Development Trading Co., Ltd., who won the pre-selection of the project in mid-2020. However, by 2023, the two pre-selected companies confirmed in writing that they would not continue to participate in bidding for the project. The People’s Committee of Ha Tinh province has issued a Decision to cancel the results of the pre-qualification of investors to implement the Ham Nghi Urban Area project in Ha Tinh City and Thach Ha District.
Hoanh Son has also ventured into renewable energy with the Cẩm Hòa Solar Power Plant project (Cam Xuyen), with a capacity of 50 MWp and a total investment of 1,458 billion VND. However, according to information from the Investor, in early 2023, Hoanh Son wished to sell the solar power project to a foreign company for 23.9 million USD.
In 2016, Hoanh Son’s name emerged in the financial world when Hoanh Son Manufacturing & Trading Co., Ltd. – a subsidiary of Hoanh Son Corporation – acquired the Phuoc An Port project through the purchase of shares from PAP Investment Development and Port Exploitation Joint Stock Company (PAP).
The Phuoc An Port project covers a total area of 733.4 hectares (183 hectares for the port area and 550.4 hectares for the port logistics service area), with a total investment of 17,571.36 billion VND.
According to the plan, Phuoc An Port has the capacity to serve ships weighing up to 60,000 DWT, including 10 berths (6 container berths and 4 general-purpose berths) with a total length of 3,050 meters. The berth capacity is 2.5 million TEUs/year for container cargo and 6.5 million tons/year for general cargo. The port logistics service area has a berth capacity of 2.2 million TEUs/year for container cargo and 4 million tons/year for general cargo.
In 2016, PAP increased its charter capital from 440 billion VND to 900 billion VND by issuing shares to strategic shareholders, namely Hoanh Son Manufacturing & Trading Co., Ltd., chaired by Mr. Pham Hoanh Son (born in 1972). At this time, Hoanh Son Manufacturing & Trading Co., Ltd. owned 51.11% of the company’s charter capital.
In 2017, PAP continued to raise its charter capital from 900 billion VND to 1,100 billion VND. Hoanh Son Manufacturing & Trading Co., Ltd. was the only shareholder who purchased shares worth 200 billion VND, owning 60% of the company’s capital.
In February 2019, Mr. Pham Hoanh Son sold Hoanh Son Manufacturing & Trading Co., Ltd. to Industrial Park Investment & Construction Nhon Trach 6A Co., Ltd. – a subsidiary of Tuấn Lộc Investment & Construction Joint Stock Company (Tuấn Lộc Group). Hoanh Son Manufacturing & Trading Co., Ltd. sold more than 25.8 million shares in June 2022.
During the same period, Hoanh Son also became famous for becoming a major shareholder of Sao Vang Rubber Joint Stock Company and announced the investment in the Sao Vang – Hoanh Son Commercial and Residential Complex project at the “golden land” 231 Nguyen Trai Street (Hanoi). Mr. Pham Hoanh Son also became the Chairman of Sao Vang Rubber.
Phonesack Vietnam Co., Ltd. is a member of Phonesack Group (Laos), established in 2010. The company was formerly known as Phonesack Vietnam Coal Mining Joint Stock Company. Its headquarters is located in Ky Lien Industrial Zone, Ky Anh town, Ha Tinh province. The Director cum Legal Representative of the company is Mr. Nguyen Kim Son, who is also the representative of My Thuy Southern Port Joint Stock Company. The current charter capital of Phonesack Vietnam is over 32 billion VND.
Nam Tien Co., Ltd. is headquartered in Thai Nguyen province, and the Director cum Legal Representative is Mr. Phan The Nam. According to the amendment of the business registration in July 2016, Nam Tien has a charter capital of 165 billion VND, with Mr. Nam owning nearly 96% of the charter capital and about 4% owned by Mr. Nguyen Van Dai.
Nam Tien proposed the investment project of the conveyor for transporting coal from Laos to Vietnam and the warehouse for consolidating goods in A Ngo commune, Dakrong district. The project includes a 5.1km conveyor, with a capacity of 6,000 tons/hour; the starting point is the external warehouse of Laos, the ending point is A Deng hamlet, A Ngo commune, Dakrong district; the warehouse has an area of 15 hectares. On January 5, 2024, the Government issued Resolution No. 04/NQ-CP on approving the conveyor section of the project to build the conveyor system for transporting coal from Laos to Vietnam, crossing the Vietnam-Laos border (at La Lay international border gate).
