Thuan An Group’s Chairman Nguyen Duy Hung Arrested
Rapid Expansion
As previously reported, the Ministry of Public Security’s Investigation Police Agency (C03) initiated prosecution in a case involving “violations of bidding regulations causing serious consequences; bribery; and receiving bribes” occurring at Thuan An Group Joint Stock Company (Thuan An Group) and related entities.
The Ministry of Public Security’s Investigation Police Agency simultaneously issued arrest warrants for six suspects. Among them is Nguyen Duy Hung, Chairman of Thuan An Group JSC, for violating bidding regulations causing serious consequences and offering bribes, as stipulated in Clause 3, Article 222 and Clause 4, Article 354 of the Penal Code.
Mr. Nguyen Duy Hung, Chairman of Thuan An Group JSC. |
The company’s website is currently inaccessible. Thuan An Group’s predecessor was Thuan An Construction and Trading Development JSC, chaired by Mr. Nguyen Duy Hung.
Thuan An Group is known as a corporation specializing in infrastructure investment and construction, electricity and renewable energy trading and sales, and real estate investment and development.
The company was established in August 2004 with a modest charter capital of VND 3.9 billion.
From 2011 to 2018, Thuan An Group embarked on a path of expansion, aiming to become an infrastructure developer. During this period, the company’s charter capital was increased three times through share issuance.
By 2014, the company’s registered capital had reached VND 300 billion, representing an almost 80-fold increase over a 10-year period.
In 2021, the company’s charter capital was again increased approximately threefold to VND 800 billion, over 200 times its initial capital at the time of establishment.
In recent years, Thuan An has consistently won dozens of construction contracts, including several worth hundreds of billions of VND.
As an independent contractor or a member of joint ventures, Thuan An is currently executing multiple construction projects in various provinces and cities across the country.
In 2023, the joint venture of Construction Corporation No. 1 – Truong Son Construction and Investment JSC – Dat Phuong Group JSC – Thuan An Group won Contract No. 11-XL: Construction of the Dai Ngãi 2 Bridge and its related structures, with a contract value of VND 2,073 billion and a bid price of VND 1,727 billion.
The joint venture of Thuan An Group – Phuong Nam Construction and Mechanical JSC – Bac Trung Nam Infrastructure Construction JSC – Construction Group 168 Vietnam JSC won Construction Contract No. 02: Construction of the Km22+000 – Km32+000 section of the Khanh Hoa – Buon Ma Thuot Expressway Project, Phase 1, with a bid price of VND 2,078 billion.
The joint venture of Thuan An Group – Construction Group 168 Vietnam JSC also won Contract No. 04-XL for the construction of the Km12+500 to Km19+120 section of the Tuyen Quang – Ha Giang Expressway Project (Phase I) in Ha Giang Province, with a bid price of over VND 815 billion.
 Dong Viet Bridge Project, the first and largest cable-stayed bridge in Bac Giang Province. Photo: Tien phong |
Other notable contracts won by Thuan An include Contract No. 5 for the construction of the Thang Long Bridge repair project in Hanoi, awarded in July 2020 with a value of VND 242.846 billion; and XL10 Contract for the Cam Lo – La Son section of the North-South Expressway, awarded in December 2019 with a value of VND 639.407 billion.
The company also secured Contract No. 01EC for the project of the grade-separated intersection of Road No. 2, South Tuy Hoa Urban Area – Nguyen Van Linh Road (Phu Yen Province), awarded in March 2019 with a value of VND 496,034 billion; and Contract No. 14 for the upgrade and expansion of National Highway 15A, Section Km301+500 – Km333+200, Nghe An Province, with a bid price of VND 60.006 billion.
In the construction of the Dien Bien Phu – Nguyen Tri Phuong intersection under the Da Nang City Sustainable Development Project, Thuan An participated as part of a joint venture and was responsible for the project’s construction, with a contract value of approximately VND 120 billion.
Emergence as a Bridge Construction Contractor
In recent years, the group has emerged as a prominent contractor in bridge construction projects. These include the Song Rut Bridge project on the expressway connecting Ha Long with Bach Dang; the Cua Hoi Bridge – an extradosed cable-stayed bridge across the Lam River; the Vinh Tuy 2 Bridge – a gateway to the capital city of Hanoi; and the Rach Mieu 2 Bridge.
Another project undertaken by Thuan An Group is the Ky Lo Bridge – the longest (1.8km) bridge on the North-South Expressway, Quy Nhon – Chi Thanh section.
Thuan An Group was also one of two main contractors for the May Chai cable-stayed bridge connecting Cau Tre Canal (Ngo Quyen) to Vu Yen Island (Thuy Nguyen, Hai Phong City), with a total investment value of over VND 2,000 billion. The project is located at the estuary where large cargo ships enter and exit.
In the Dong Viet cable-stayed bridge project connecting Bac Giang Province with Hai Duong, Thuan An was the contractor responsible for the largest portion of the project, with a construction value of nearly VND 800 billion out of a total investment of over VND 1,400 billion.
The project owner is the Project Management Unit (PMU) for Investment in Transport and Agricultural Works in Bac Giang Province.
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Among the six suspects, C03 has issued arrest warrants for Nguyen Van Thao, Director, and Dam Van Cuong, Deputy Director of the PMU for Investment in Transport and Agricultural Works in Bac Giang Province, for violating bidding regulations causing serious consequences and receiving bribes, as stipulated in Clause 3, Article 222 and Clause 4, Article 354 of the Penal Code. Mr. Hoang The Du, Head of a department within the PMU for Bac Giang Province, has been charged with violating bidding regulations causing serious consequences, as stipulated in Clause 3, Article 222. |
Hong Khanh
