TONG CONG TY CO PHAN XAY DUNG DIEN VIET NAM
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Tong Cong Ty Co Phan Xay Dung Dien Viet Nam (Vietnam Electricity Construction Joint Stock Corporation), with registered office located in Da Nang City, Vietnam, specializes in the construction of electricity works. Through its subsidiaries, the company principally offers construction services of electricity system projects and 500 kv. substations, power source projects, industrial and civil construction projects, and others. It also produces and trades electricity as well as produces electric spare parts, centrifugal concrete high tension poles, as well as designs and manufactures zinc structures, mechanical and zinc-plated products. Vietnam Electricity Construction Joint Stock Corporation was established in 1998 through the unification of Wire Construction and Station No 3 Company and Wire Construction and Station No 5 Company. The company has ten subsidiaries and 11 alliances.
The Company specializes in the construction of electricity works. It mainly offers construction services to electricity system development projects, including transmission network, power plant, transformer stations, and other related structures, as well as manufactures, markets, and installs fabricated steel structures. The Company is also engaged in manufacturing and commercial construction as operative builders, alongside with real estate operation and development, management and operation of power plants and properties, and leasing services for office space. Other activities include tourism and entertainment operations and financial investment.
Description and history
The Company was established in 1998 upon the merging of Wire Construction and Station No 3 Company and Wire Construction and Station No 5 Company according to Decision No174 NL/TCCB issued on February 22,1998.
The Company is headquartered at 223 Tran Phu, Hai Chau district, Da Nang City. In October 2005, Electric Construction Company 3 was converted to Vietnam Electricity Construction Joint-stock Corporation. Its chartered capital was VND150 billions from October 2005 to January 2007 and was raised to VND 320 billions in February 2007.
Vietnam Electricity Construction Joint-stock Corporation operated according to the model: Mother company-Subsidiaries. While Vietnam Electricity Construction Joint-stock Corporation is the mother company, there are 12 subsidiaries and 11 associated units.
The Company’s main activities are the construction and installation of power infrastructures (Hydroelectric stations), build electric transmission infrastructures (power lines and transformer stations up to 500kv). The Company produces and processes tin coat steel structures, steel columns and provides hotel services. The Company, with 18 operational units, accounts for 35-40% of market share.
The Company faces certain risks in its operations which include the instability of power construction and installation, dependence on providers and resettlements. At the same time, power construction and installation is a heavy and dangerous duty due to the height of the construction, making it highly susceptible to labor accidents; the open market also brought high competition for existing power construction businesses. Foreign businesses with strong financial support and effective management systems would pose serious threats to domestic ones; metals, tin and materials make up a large portion of the production cost, hence the volatility in commodity price is extremely influential on the revenue and profit of our business; slow settlements and payments also affect our business results.
The Company was listed on Ho Chi Minh Stock Exchange on August 1, 2007 under the symbol ‘VNE’.
Established through the unification of Wire Construction and Station No 3 Company and Wire Construction and Station No 5 Company
Specializes in the construction of electricity works
THANHLONG VNECO JOINT STOCK COMPANY
AUDITING & INFORMATIC SERVICES COMPANY LIMITED
US SIC Code
223 TRAN PHU, HAI CHAU DISTRICT
City province or state postal code
39, DA NANG
Phone: +84 511 3562361
Fax: +84 511 3562367
Country address: VIETNAM
Website url: www.vneco.vn