Road builder Tasco eyes $24.7 mln urban area in Phu Tho province

Tasco JSC, a major Vietnamese road builder, was the sole applicant to implement a new urban area project in Viet Tri town, the northern province of Phu Tho, with a total investment of more than VND610 billion ($24.7 million).

Covering 17.2 hectares on Anh Dung street, Tien Cat ward, the 50-year project is expected to be completed in the second quarter of 2027.

Once completed, it will form a commercial housing urban area, headquarters and offices, service and commercial facilities, and civil works. The main items will include villas, resettlement housing, and social housing.

Founded in 1971, Tasco, listed on the Hanoi Stock Exchange (HNX) as HUT, operates mainly in the fields of automobile services and smart transportation infrastructure. Its member unit VETC is a pioneer in operating the non-stop electronic toll collection (ETC) system, accounting for 75% of the ETC market share in Vietnam.

The company marked its engagement in the real estate segment with the establishment of Tasco Land in March 2022, with projects in Lam Dong and Khanh Hoa provinces.

Tasco owns a number of high-end resorts such as Six Senses Ninh Van Bay Resort in the central province of Khanh Hoa and Ana Mandara Dalat Ancient French Villa in the resort city of Da Lat, Central Highlands province of Lam Dong.

In the coming time, it plans to focus on developing high-end real estate products and five-star hotel and resort chains, and managing commercial real estate chains.

On the stock market, HUT closed the Thursday trading session at VND19,200 ($0.78) per share.