Tracodi, Soc Trang province team up in transport infrastructure development

By Gia Huy
Thu, May 19, 2022 | 8:34 am GMT+7

Transport and Industry Development Investment JSC (Tracodi), a Bamboo Capital Group member, and Soc Trang have launched their cooperation in the province’s transport infrastructure development.

The Ho Chi Minh City-based firm, under a memorandum of understanding signed with Soc Trang authorities on Tuesday, plans to invest an estimated VND6,500 billion ($281 million) in the Mekong Delta province.

After research, Tracodi will make proposals to build a key north-south road and 934B Road in Soc Trang. Further works, including assessment and legal procedures, will follow.

Soc Trang offers lots of development potential like the planned Soc Trang seaport, expected to become a key port in Mekong Delta, Vietnam’s rice bowl. The province’s connectivity with other Mekong Delta localities will also be enhanced thanks to different regional expressway, road and bridge projects already planned at national level.

A corner of Soc Trang town, capital of Soc Trang province, southern Vietnam. Photo courtesy of Vietnam News Agency.

A corner of Soc Trang town, capital of Soc Trang province, southern Vietnam. Photo courtesy of Vietnam News Agency.

Tracodi’s backlog value has reached almost $368.2 million, assuring its income for at least the next two years. It was awarded the $17.6 million Phan Thiet Airport taxiway construction contract at the end of 2021, a public investment project in the south-central province of Binh Thuan, on which it will focus in the first half of 2022.

At Tracodi’s recent annual general meeting, shareholders approved a merger and acquisition (M&A) plan of Bang Duong E&C JSC, specialized in construction of transport infrastructure projects.

They also voted for proceeding the M&A of a new quarry in Binh Thuan, with a scale of 18.5 hectares, reserves of over 13 million cubic meters, and mining time to 2036.

Comments (0)
  • Read More
Central Vietnam province plans to build $2.4 bln LNG power plant from 2031

Central Vietnam province plans to build $2.4 bln LNG power plant from 2031

The 4,800-MW Chan May LNG power plant, with an investment of $2.4 billion, can be deployed in 2031-2035, according to Thua Thien Hue authorities.

Energy - Thu, November 21, 2024 | 10:41 pm GMT+7

Indonesia, France step up cooperation in economy, defence

Indonesia, France step up cooperation in economy, defence

Indonesian President Prabowo Subianto discussed economic and defence cooperation during a bilateral meeting on Tuesday with French President Emmanuel Macron on the sidelines of the G20 Summit in Rio de Janeiro, Brazil, Antara reported.

Southeast Asia - Thu, November 21, 2024 | 10:25 pm GMT+7

Thai economy to maintain upward momentum in 2025

Thai economy to maintain upward momentum in 2025

The National Economic and Social Development Council of Thailand (NESDC) expects the Thai economy to sustain its upward momentum in 2025 with a growth of 2.3-3.3% despite growing risks.

Southeast Asia - Thu, November 21, 2024 | 10:24 pm GMT+7

Former parliament chairman Vuong Dinh Hue warned for violations

Former parliament chairman Vuong Dinh Hue warned for violations

The Politburo, Vietnam's supreme decision making body, on Wednesday issued warnings to Vuong Dinh Hue, former Chairman of the National Assembly, and Nguyen Van The, former Minister of Transport, for violations while on duties.

Politics - Thu, November 21, 2024 | 10:10 pm GMT+7

Sumitomo insists on building LNG power plant in central Vietnam

Sumitomo insists on building LNG power plant in central Vietnam

Japanese trading house Sumitomo has been pushing for a liquefied natural gas (LNG)-fed power plant investment in Vietnam’s central province of Khanh Hoa.

Energy - Thu, November 21, 2024 | 8:53 pm GMT+7

Vietnam’s Vinhomes fulfils 67% of record buyback plan

Vietnam’s Vinhomes fulfils 67% of record buyback plan

Vinhomes, the housing development arm of conglomerate Vingroup, has purchased back 246.98 million shares, meeting 66.75% of the plan and accounting for 5.7% of the outstanding volume.

Finance - Thu, November 21, 2024 | 8:43 pm GMT+7

Vietnam high-speed railway should run beyond Hanoi, HCMC on either side: lawmakers

Vietnam high-speed railway should run beyond Hanoi, HCMC on either side: lawmakers

Vietnam’s mega North-South high-speed railway project should be redesigned and extended beyond Hanoi and Ho Chi Minh City as currently planned, several lawmakers have suggested.

Infrastructure - Thu, November 21, 2024 | 6:11 pm GMT+7

Vietnam-Malaysia relationship upgraded to comprehensive strategic partnership

Vietnam-Malaysia relationship upgraded to comprehensive strategic partnership

Vietnam and Malaysia have upgraded their relationship to a comprehensive strategic partnership, the highest level in the former’s diplomatic hierarchy.

Politics - Thu, November 21, 2024 | 5:21 pm GMT+7

Petrovietnam units sign LNG supply deal for trial run of Vietnam’s first LNG power plants

Petrovietnam units sign LNG supply deal for trial run of Vietnam’s first LNG power plants

PV Power and PV Gas, two units of state-owned Petrovietnam, have signed an LNG supply deal for trial operation of Nhon Trach 3 and Nhon Trach 4, Vietnam’s first LNG-to-power plants.

Energy - Thu, November 21, 2024 | 4:40 pm GMT+7

Sufficient first phase funds ensured for Vietnam’s new mega airport: transport minister

Sufficient first phase funds ensured for Vietnam’s new mega airport: transport minister

Minister of Transport Nguyen Van Thang affirmed Wednesday that funding would be secured for building the Long Thanh International Airport, set to become Vietnam’s biggest.

Infrastructure - Thu, November 21, 2024 | 3:53 pm GMT+7

Bamboo Capital wins kudos for transparent reports, good governance

Bamboo Capital wins kudos for transparent reports, good governance

Vietnamese private conglomerate Bamboo Capital Group has been honored as a Top 20 business with the Best Annual Report and the Best AGM Organization at the 2024 Vietnam Listed Company Awards (VLCA).

Bamboo Capital - Thu, November 21, 2024 | 3:37 pm GMT+7

VAFIE to organize workshop on amendments to horse racing, football betting rules

VAFIE to organize workshop on amendments to horse racing, football betting rules

The Vietnam’s Association of Foreign Invested Enterprises (VAFIE) and The Investor will organize a workshop on suggestions to amend the government’s Decree 06 on horse racing, greyhound racing and international football betting services.

Economy - Thu, November 21, 2024 | 2:38 pm GMT+7

Vietnam Politburo okays international, regional financial centers in HCMC, Danang

Vietnam Politburo okays international, regional financial centers in HCMC, Danang

Vietnam’s highest decision-making body, the Politburo, has greenlighted the establishment of an international financial center in Ho Chi Minh City and a regional financial center in the central city of Danang.

Economy - Thu, November 21, 2024 | 1:50 pm GMT+7

Singapore's Platinum Victory seeks to gain veto at Vietnam’s REE

Singapore's Platinum Victory seeks to gain veto at Vietnam’s REE

Singaporean fund Platinum Victory Pte. Ltd. has registered to buy more shares of Ho Chi Minh City-based utility firm Refrigeration Electrical Engineering Corporation (REE) to achieve the vetoing power in the latter.

Finance - Thu, November 21, 2024 | 11:29 am GMT+7

Posco keen on investing in Vietnam's $2.2 bln LNG power project

Posco keen on investing in Vietnam's $2.2 bln LNG power project

South Korea’s steelmaker Posco is eyeing to invest in the $2.2 billion Quynh Lap LNG-fired power plant project in Vietnam’s central province of Nghe An.

Energy - Thu, November 21, 2024 | 10:42 am GMT+7

Vietnam firm Hoa Lam to build $212 mln Aeon Mall in Mekong Delta

Vietnam firm Hoa Lam to build $212 mln Aeon Mall in Mekong Delta

The Mekong Delta city of Can Tho has accepted a subsidiary of private multi-sector Hoa Lam Group as the investor of the Aeon Mall Can Tho commerce and service center.

Industries - Thu, November 21, 2024 | 10:31 am GMT+7