FECON Joint Stock Company (stock code: FCN) has secured its first contract
for the Hanoi Metro Line 2 project, spanning from Nam Thang Long to Tran Hung Dao,
valued at nearly 200 billion VND. This marks a significant milestone, solidifying FECON’s presence in another major metro project in Hanoi, following its success on the Nhon-Hanoi Station line (Metro Line 3).
According to the Hanoi Metropolitan Railway Management Board (MRB), the contract for foundation treatment at the Xuan Dinh Depot of the Nam Thang Long – Tran Hung Dao section is the first construction package awarded. FECON emerged as the winning bidder for this critical phase of the project.
The 11-hectare construction site in Xuan Dinh Ward, Hanoi, has been fully prepared and is ready for immediate commencement upon contract signing. The contract duration is set at 499 days, with the entire Metro Line 2 project expected to be completed by 2029.
The Nam Thang Long – Tran Hung Dao section of Hanoi Metro Line 2 spans 11.5 km, with 8.9 km underground and 2.6 km elevated. It includes 7 underground stations, 3 elevated stations, and a depot at Xuan Dinh. This project is pivotal for Hanoi’s transportation infrastructure, aimed at reducing traffic congestion and modernizing the city’s urban framework.
As the first domestic contractor to undertake a package in this segment, FECON reinforces its leadership in urban rail transit—a sector renowned for its technical complexity and stringent management requirements.
Over the years, FECON has developed specialized expertise in underground and metro construction. The company has contributed to Metro Line 1 in Ho Chi Minh City and notably distinguished itself on Metro Line 3 (Nhon-Hanoi Station), becoming the sole Vietnamese contractor to operate a TBM tunnel boring machine and execute high-precision underground structural works. These achievements played a crucial role in the project’s success.
FECON’s consecutive involvement in flagship metro projects underscores its reputation, capabilities, and experience, cementing its position as Vietnam’s premier infrastructure contractor in urban underground construction.
FECON’s Chairman, Mr. Pham Viet Khoa, stated that
securing the role of primary contractor for the initial package of Metro Line 2 presents an opportunity for FECON
to further demonstrate its expertise and readiness to engage in larger-scale contracts for metro projects in Hanoi and Ho Chi Minh City in the future.
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FECON JSC, the leading company in the geotechnical engineering field in Vietnam with the slogan “Understanding the Earth, Conquering New Heights”, has recently reported its first annual loss since going public. The main reason for this loss is the burden of debt and the lack of revenue from solar power projects.
Which bank is providing funding for Son Hai Corporation to give bonuses of over 300 million VND per year to truck and excavator drivers?
With warranty commitments of up to 10 years and fast construction progress, it raises the question: How solid is Sơn Hải Group’s financial backing?!
