Tracodi, the construction-infrastructure subsidiary of Bamboo Capital, and Thanh Tuan Atesco, a major developer of urban areas and industrial parks, will deploy strategic cooperation in implementing major projects.
The cooperation will enable Tracodi to go from strength to strength with the new partnership, improving its capacity to carry out real estate, infrastructure, industrial park and energy projects, the company said in a release.
Tracodi, listed on the Ho Chi Minh Stock Exchange (HoSE) as TCD, boasts 33 years of experiences in building traffic, industrial and civil infrastructure; apart from mining and processing of construction stones.
It is among a few contractors with a top-tier license that speaks to its capacity and capability in joining large-scale traffic infrastructure projects.
As a subsidiary of Bamboo Capital (HoSE: BCG), Tracodi is the contractor of many luxurious real estate projects of its sister firm BCG Land, including King Crown Infinity, Malibu Hoi An, and Hoian d'Or.
It has also undertaken large energy projects of BCG Energy, another sister firm, like BCG Long An 1 and 2, BCG Vinh Long, and BCG Phu My.
Beyond the BCG ecosystem, Tracodi is exploiting opportunities in the public sector. For example, it has built and put into operation a 24-kilometer section of the BOT 830 Provincial Highway in the Mekong Delta province of Long An.
It is also conducting three packages of other major projects including Phan Thiet airport in the central province of Binh Thuan; an urban area in the northern province of Bac Giang; and a road connecting National Highway 3 with Vo Nguyen Giap street in Hanoi.
In 2024-2027, Tracodi is scheduled to deploy more projects in the Mekong Delta and southeastern region, including the Go Dau-Xa Mat Expressway in Tay Ninh province, the Duc Hoa-Duc Hue Expressway in Long An province and provincial Highway 935 in Soc Trang province.
Amid ongoing challenges in the real estate market, Tracodi recorded a strong performance in the third quarter of this year with a pre-tax profit of VND73.6 billion ($3.1 million), up 28.3% year-on-year, on a revenue of VND353.8 billion ($14.7 million).
In the first nine months of this year, the firm’s pre-tax profit reached VND187.5 billion ($7.8 million), or 56.12% of the full-year target, on a revenue of VND1,159 billion ($48.5 million).
Vast experience
Meanwhile, since its establishment in 2004, Thanh Tuan Atesco has garnered vast experience as full contractor or sub-contractor in building urban areas, infrastructure and industrial parks across Vietnam.
Some of its notable projects include the water supply system, sewage system and traffic infrastructure within the 153-hectare Cat Lai urban area in Thu Duc city, Ho Chi Minh City; infrastructure for the Tien Phuoc urban area in HCMC, infrastructure for the high-rise Marina Tower in the southern province of Binh Duong; infrastructure for the An Phu-An Khanh urban area in Thu Duc city, HCMC; the Huu Thanh Industrial Park in Long An province; expansion and upgrade of Pleiku town-Bridge 110 section of National Highway 14; and infrastructure for the Nhon Hoi Economic Zone in the central province of Binh Dinh.
Tracodi’s cooperation with Thanh Tuan Atesco will help the former fulfil its role better as contractor for real estate and energy projects of Bamboo Capital, even as the parent firm seeks opportunities in major traffic projects in the southern region.