Package number 35, named “Construction from Km3+498 (T74 pillar of the flyover) to the end of the route,” is under the management of the Board of Management for Traffic Projects of Ba Ria-Vung Tau province. The project was openly bid by JSC Construction Consulting Union, following a single-stage, single-envelope process, and will be executed under an adjusted unit price contract. The construction must be completed within 600 days.
According to the bid opening minutes dated November 5, JSC Construction and Installation Trung Nam (Trung Nam E&C), representing the joint venture of Package 35 contractors, was the sole bidder. Their offer was 1.746 trillion VND with a completion period of 598 days, only slightly lower than the project’s requirements.
Trung Nam E&C has successfully executed numerous road construction packages nationwide and is a member of the Trung Nam Group, a diversified conglomerate with interests in energy, infrastructure, construction, and real estate.
According to their website, Trung Nam E&C’s revenue in 2022 was nearly 7 trillion VND, a significant drop from the previous year, amounting to only 36% of their 2021 revenue. Construction activities accounted for over 90% of their revenue in 2020 and 2021, but this figure decreased to 70% in 2022. Despite the substantial revenue, their after-tax profit was modest, at only 2.4 billion VND in 2022 and 8.7 billion VND in 2021.
As of the end of 2022, this subsidiary of Trung Nam Group recorded total assets of 8.5 trillion VND, financed primarily by 8 trillion VND in short-term debt.
 Trung Nam E&C’s revenue in 2022 saw a sharp drop compared to 2021 and 2020. Source: Trung Nam E&C
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Package 35 is one of the two main packages of the project “Road connecting to the Bien Hoa – Vung Tau Expressway (from QL56 to Vung Van junction),” which is approximately 6.7km long and is expected to require about 6.7 trillion VND from the provincial budget.
The project also includes Package 34, which involves construction from the beginning of the route to Km3+498 (T74 pillar of the flyover) with an estimated cost of 1.7 trillion VND. This package also received a single bid from a joint venture represented by Trung Chinh Trading and Construction Company Limited.
The “Road connecting to the Bien Hoa – Vung Tau Expressway” comprises three component projects: the road from QL56 to Vung Van junction, the road from Vung Van junction to DT994 coastal road, and the road from DT994 coastal road to the roundabout on 3/2 Street.
In the package “Construction of roads and bridges at DT994 junction” of the project “Road connecting to Bien Hoa – Vung Tau Expressway (from Vung Van junction to DT994 coastal road),” two joint ventures submitted their bids. These were represented by Vietnam Export Import Commercial Joint Stock Bank (HOSE: VCG) and Dat Phuong Group (HOSE: DPG), with closely matched bids of 1.639 trillion VND and 1.684 trillion VND, respectively.
 Overall layout of the routes connecting to the Bien Hoa – Vung Tau Expressway. Source: Ba Ria-Vung Tau Newspaper
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