Arrested businessman’s fingerprints cover Thuan An Group

Hanoi-based Thuan An Group JSC has grown rapidly thanks to winning construction contracts for projects across the country that bear the mark of 50-year-old businessman Nguyen Duy Hung.

However, Hung, chairman of the company, was detained on Monday for “violating bidding regulations causing serious consequences”, and “bribery”.

Hung is among six individuals facing legal proceedings launched by the Ministry of Public Security’s investigative agency (C03) relating to violations that occurred at Thuan An Group and related units.

The other detainees include Tran Anh Quang, general director of Thuan An Group, and Nguyen Khac Man, deputy general director, for “violating bidding regulations causing serious consequences” and “bribery.”

Thuan An Group is a prominent name in the infrastructure construction market. Forming partnerships with other units, it has won a series of large construction contracts in provinces and cities across the country.

In 2023, the consortium of Construction Corporation No. 1 - Truong Son Construction Investment JSC - Dat Phuong Group JSC - Thuan An Group won a package to build Dai Ngai 2 bridge and connecting roads with a total value of VND2,073 billion ($82 million).

Thuan An Group, Phuong Nam Construction and Mechanics JSC, Bac Trung Nam Infrastructure Construction JSC and 168 Vietnam Construction Group JSC last year won a VND2,119 billion bidding package for a section of the Khanh Hoa-Buon Ma Thuot Expressway.

Thuan An Group and 168 Vietnam Construction Group Joint Stock Company also won another package worth VND846.64 billion to construct a section of the Tuyen Quang-Ha Giang Expressway through the northeastern province of Ha Giang.

Other bidding packages include the Lach Gac 1, Lach Gac 2, Sen, Den, Tan Yen 1, Tan Yen 2, Hang Son, Song Cau Vang, Song Cam, and Song Dam Thuy bridges; and a section of the Eastern North-South Expressway.

In 2022, Thuan An Group, in partnership with 168 Vietnam Construction Group and Trung Chinh Trading and Construction Company Limited, won a VN1,132 billion ($45 million) package to build Dong Viet bridge and roads leading to the bridge in Yen Dung district, the northern province of Bac Giang.

Thuan An Group, formerly known as Thuan An Trading and Construction Development JSC, was established on August 4, 2004, headquartered at 141 Truong Chinh street, Hanoi. As of December 7, 2021, this company's charter capital was VND800 billion ($32 million), with nearly 32% held by chairman Nguyen Duy Hung.

Besides Thuan An, Hung is director of GMC Hanoi One Member LLC operating in the field of electrical construction, and serves as chairman of Electricity Services and Investment Joint Stock Company (ESIC), which operates in electricity transmission and distribution. ESIC was established in early 2019 with charter capital of VND100 billion ($4 million) and founding shareholders being Bui Cong Kien (25%), Nguyen Van Nam (25%), and Pham Hong Ha (50%).

Thuan An Group used to hold a 51% stake in Thuan An EC No. 7 Construction Joint Stock Company, operating in the field of railway and road construction. However, in November 2016, it lowered its ownership ratio to 3.57%.

On August 21, 2017, Thuan An bought 30% of the capital (VND90 billion) of housing contactor TTG Investment Joint Stock Company. Its shareholders included Nguyen Thi Doan Trang - who has strong connections with Hung - holding 20%. Doan Trang is also chairwoman of Nghe An province-headquartered Huong Giang JSC, operating in the real estate business.