The Great 2,400 Billion VND Sea-Crossing Bridge: Unveiling the Mastermind Contractor

The Coastal Road and Thuan An Sea Gate Bridge project in Thua Thien - Hue province is an impressive undertaking with a total investment of 2,400 billion VND. Construction commenced in March 2022, and this ambitious project is expected to be completed within three years.

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The Coastal Highway Project in Thua Thien – Hue Province and the Phase 1 bridge over the Thuan An sea gate have a total length of 7.785km, from Tam Giang Bridge to the bridge over the Thuan An sea gate, ending at the intersection of QL49A – QL49B in Thuan An Ward.

The Thuan An Bridge is 2.36km long, with a lane width of 26m and a bridge width of 20m. The main span of the bridge has a widened cross-section of 23.5m due to the arrangement of the 2.5m-wide tower and safety strips on both sides.

The superstructure consists of (8.3+4×12+8.3)m simply supported spans; two cantilever segments of (55+90+55)m; a main Extradosed span of (120+218+120)m; and 36 Super-T spans. The substructure consists of reinforced concrete piers and abutments founded on 1.5m diameter bored piles (2.0m for the main and Extradosed spans piers). The main Extradosed span corresponds to the largest vessel clearance of 218m.

Photo: Construction Newspaper

This project is located in Hai Duong Commune and Thuan An Ward, Hue City, Thua Thien – Hue Province, and is invested by the Project Management Unit for Transport Construction of Thua Thien – Hue Province.

According to the Construction Newspaper, after nearly 30 months of construction, the Thuan An sea gate bridge project (Hue City) has now completed the main items, revealing its shape and awaiting the final closure of the last span.

Currently, more than 70% of the construction volume has been completed on the site. The unit is also accelerating to speed up the progress so that by the end of 2024, the last span will be closed and technically opened to traffic. Once completed, the bridge will be the longest sea gate crossing in Central Vietnam.

Photo: Tien Phong Newspaper

The project has a total investment of VND 2,400 billion, started in March 2022, and is expected to be completed in 3 years. The contractor is a joint venture between Tan Nam Construction Joint Stock Company – Dat Phuong Group Joint Stock Company – 479 Hoa Binh Joint Stock Company.

According to the Project Management Unit for Transport Construction of Thua Thien – Hue Province, Tan Nam Construction Joint Stock Company and Dat Phuong Group Joint Stock Company are the contractors for the construction of the main piers from T26 to T28 of the Thuan An sea gate bridge with a total length of 458m using the Extradosed and cable-stayed method.

These units are making efforts to complete the project, with Tan Nam Construction Joint Stock Company having cast 46m of the span at pier T26, and Dat Phuong Group Joint Stock Company having cast 44m and tensioned 6 out of 34 cables. “The bridge span construction method is to directly cast reinforced concrete. Each pour is a 4-meter section, and on average, we complete one such section every 10 days,” said the investor representative.

In terms of investors, Dat Phuong Group (stock code: DPG) was established in 2002 and currently operates in the fields of construction, real estate, energy, resort services, and manufacturing. Among these, construction is the main focus, contributing the majority of the company’s revenue.

In recent years, Dat Phuong, in both joint ventures and independent bids, has won numerous contracts worth hundreds to thousands of billions of VND. The Group has participated in the construction of many transport infrastructure projects such as Vinh Hao – Phan Thiet Expressway, Khanh Hoa – Buon Ma Thuot Expressway Phase 1, Thon 3 Bridge, Ong Dien Bridge, My Thuan 2 Bridge, Nhon Trach Bridge, Nhat Le 3 Bridge, etc.

In terms of business results, in the first 6 months of 2024, Dat Phuong Group recorded revenue of VND 1,386 billion, up 20% over the same period, and after-tax profit of VND 150 billion, up 9% over the same period.

As of September 30, 2023, Dat Phuong’s total assets reached VND 6,257 billion, up 2% from the beginning of the year. A notable point in the asset structure is the large amount of cash and cash equivalents, exceeding VND 1,100 billion, despite a decrease compared to the beginning of the year.

Tan Nam Construction Joint Stock Company was established in 2004, with its head office in Nghi Phu Ward, Vinh City, Nghe An Province. Mr. Tran Tu Dong Khanh (born in 1976) is the Director, and Mr. Nguyen Dinh Thi (born in 1976) is the Chairman of the Board. Previously, the Chairman of the company was Mr. Nguyen Trong Long (born in 1964). The company’s charter capital is VND 562.88 billion. According to the business registration in September 2020, the company had a charter capital of VND 548.88 billion, of which Mr. Nguyen Trong Long held more than 98% of the capital.

Tan Nam Construction Joint Stock Company has participated in joint ventures that won transportation infrastructure packages stretching from North to South, such as Package XL02 of the Coastal Road Project from Nghi Son (Thanh Hoa) to Cua Lo (Nghe An) (winning price of VND 1,133,752 billion); Package XL04 of the North-South Expressway Project, Eastern Section – Nghi Son – Dien Chau (winning price of VND 1,139,53 billion); Package XL03 of the My Thuan – Can Tho Expressway Project, Phase 1 (winning price of VND 1,407,603 billion)…

479 Hoa Binh Joint Stock Company (HB479) under Hoa Binh Construction Corporation (stock code: HBC) is a specialized unit in the construction of Bridges & Ports. Established in March 1979 as Construction Site 079 under Corporation I, Mr. Dinh Van Thanh is the General Director of 479 Hoa Binh Joint Stock Company (on the right).

In 2023, 479 Hoa Binh recorded net revenue of nearly VND 635 billion, the highest since 2020, and after-tax profit of nearly VND 6.9 billion, down 36% compared to 2022. In 2023, the company won the following packages: Package XL01: Construction of the section from Km568+200 to Km600+700 (including survey and detailed design) of the Vung Ang – Bung component project of the North-South Expressway Project in the period of 2021 – 2025 (VND 452 billion); Package for the construction of the section from Km19+00 to the end of the line of the Nam Dinh – Lac Quan – Coastal Road project (VND 363 billion); Package No. 11: Construction and equipment installation of Component 3 of the Bien Hoa – Vung Tau Expressway Project, Phase 1 (VND 536 billion); …