At a meeting on May 9, the Licogi 13 Board of Directors resolved to contribute VND 55.38 billion, equivalent to 52% of the new company’s charter capital, totaling VND 106.5 billion. The company will be headquartered in Gio Quang commune, Gio Linh district, Quang Tri province. The contribution will be made in the second and third quarters of this year, under the management of General Director Pham Van Thang.
Earlier, on April 18, the People’s Committee of Quang Tri province issued a decision approving in principle the investment project for the Quan Ngang Industrial Park Phase 3 with a scale of over 116 hectares and allowing Licogi 13 to be the investor. The total investment capital for the project is VND 710 billion, of which contributed capital accounts for 15%, and the rest is borrowed capital.
The main objective of the project is to synchronously build technical infrastructure for the industrial park to lease land, workshops, and offices for production and business activities.
Quan Ngang Industrial Park. Source: Google Maps
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The project is divided into two phases, with construction starting at the end of 2025. Phase 1 will complete the construction of about 60 hectares in the first quarter of 2027, aiming to attract 30-50% of the area for secondary projects in the fourth quarter of 2026. Phase 2 is expected to be completed by the first quarter of 2029, by which time the entire project will be operational, targeting an occupancy rate of 50-70%. The project has a duration of 50 years from the date of licensing.
Located in an area with difficult socio-economic conditions, the Quan Ngang Industrial Park Phase 3 falls under the list of investment incentive sectors as stipulated by the government. The investor will be entitled to several support policies according to Resolution No. 56/2023/NQ-HĐND of Quang Tri province.
Earlier, in March, the management of Licogi 13 decided to establish another subsidiary in Ninh Binh province, named Licogi 13 Hoa Lu Joint Stock Company. With the completion of the above capital contribution plan, the Company will have seven subsidiaries operating in various fields, mainly in the production, transmission, and distribution of electricity.
The move to expand into the industrial infrastructure sector comes amid Licogi 13’s modest profits. In the first quarter of 2025, the company reported a meager profit of VND 91 million, an 80% decrease compared to the same period last year, despite a slight 13% increase in revenue, reaching VND 638 billion. The modest profit is due to persistently high-interest expenses. Asset exploitation has also been inefficient, especially with total assets nearing VND 6,200 billion by the end of March, mostly in short-term receivables and construction in progress.
According to the plan, Licogi 13 will hold its 2025 Annual General Meeting of Shareholders on June 30, 2025, at the company’s headquarters in Hanoi, with the record date being May 30, 2025.
| LIG‘s thin profit in the past time |
Tu Kinh
– 8:00 PM, May 12, 2025
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