Tracodi, Than Tuan Atesco to combine infrastructure, urban-area expertise for major projects

By Tri Duc
Tue, November 21, 2023 | 5:11 pm GMT+7

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.

King Crown Infinity project in Thu Duc city, Ho Chi Minh City, southern Vietnam. Photo courtesy of BCG Land.

King Crown Infinity project in Thu Duc city, Ho Chi Minh City, southern Vietnam. Photo courtesy of BCG Land.

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.

Comments (0)
  • Read More
PVFCCo - Phu My, PVOIL sign strategic cooperation agreement in services, trade, and chemicals

PVFCCo - Phu My, PVOIL sign strategic cooperation agreement in services, trade, and chemicals

Petrovietnam Fertilizer and Chemicals Corporation (PVFCCo - Phu My) and Petrovietnam Oil Corporation (PVOIL) on Wednesday signed a strategic cooperation agreement, marking the beginning of a comprehensive, multi-sector collaboration between the two members of state-owned Petrovietnam.

Companies - Thu, June 12, 2025 | 7:56 pm GMT+7

Vietnam's Minister of Trade suggests Walmart build 'strategic purchasing center'

Vietnam's Minister of Trade suggests Walmart build 'strategic purchasing center'

Vietnam's Minister of Industry and Trade Nguyen Hong Dien has suggested the world's biggest retailer Walmart "research and build a strategic purchasing center" in the Southeast Asian country.

Economy - Thu, June 12, 2025 | 5:48 pm GMT+7

French giants seek to join nuclear power, high-speed rail projects in Vietnam

French giants seek to join nuclear power, high-speed rail projects in Vietnam

Major French corporations on Wednesday proposed engaging in nuclear power and high-speed rail projects in Vietnam, as well as cooperating in aerospace development while meeting with Prime Minister Pham Minh Chinh in Paris.

Economy - Thu, June 12, 2025 | 3:55 pm GMT+7

Three outlets of C.P. Vietnam fined for food safety violations

Three outlets of C.P. Vietnam fined for food safety violations

Three CP Fresh Shop outlets operated by Thailand-invested C.P. Vietnam in the southern province of Soc Trang have been fined a total of VND105 million ($4,100) for food safety violations.

Companies - Thu, June 12, 2025 | 3:19 pm GMT+7

Vietnam's parliament okays cutting number of provinces and cities from 63 to 34

Vietnam's parliament okays cutting number of provinces and cities from 63 to 34

The National Assembly, Vietnam's legislature, on Thursday passed a resolution that will reduce the country's number of provinces and cities from 63 to 34, effective immediately.

Economy - Thu, June 12, 2025 | 11:49 am GMT+7

Two French aerospace giants aim to expand presence in Vietnam

Two French aerospace giants aim to expand presence in Vietnam

France’s Aerospace groups Airbus and Safran on Wednesday expressed their wish to expand operations in Vietnam and proposed collaboration initiatives with the Vietnamese Government and businesses.

Economy - Thu, June 12, 2025 | 10:27 am GMT+7

What’s driving ambitious business plan of Vietnam's major developer Phat Dat?

What’s driving ambitious business plan of Vietnam's major developer Phat Dat?

Phat Dat Real Estate Development Corp (HoSE: PDR), a major developer in Ho Chi Minh City, aims for revenue of up to VND3.3 trillion ($126.8 million) this year, four times higher than in 2024.

Real Estate - Thu, June 12, 2025 | 8:49 am GMT+7

Indonesia partners with Japan’s SMBC to boost exports

Indonesia partners with Japan’s SMBC to boost exports

Indonesia’s Ministry of Trade has partnered with Japan’s Sumitomo Mitsui Banking Corporation (SMBC) to expand exports, particularly in high-quality and sustainable products.

Southeast Asia - Wed, June 11, 2025 | 9:39 pm GMT+7

Netherlands to invest $300 mln in Indonesia

Netherlands to invest $300 mln in Indonesia

The Netherlands has prepared an investment of IDR 4.89 trillion ($300 million) to support various programs currently being implemented in Indonesia, according to the Indonesian Chamber of Commerce and Industry (Kadin).

Southeast Asia - Wed, June 11, 2025 | 9:36 pm GMT+7

Singapore-based Jetstar Asia to cease operations from July 31

Singapore-based Jetstar Asia to cease operations from July 31

Singapore-based low-cost airline Jetstar Asia will cease operations from July 31 as part of a “strategic restructure” by its parent company, Australian flag carrier Qantas.

Southeast Asia - Wed, June 11, 2025 | 9:33 pm GMT+7

Indonesia aims to stop corn imports in 2026

Indonesia aims to stop corn imports in 2026

Indonesian President Prabowo Subianto has revealed that Indonesia is targeting to stop importing corn from 2026 when it is hoping to achieve self-sufficiency in corn production.

Southeast Asia - Wed, June 11, 2025 | 8:48 pm GMT+7

Nickel extraction threatens archipelago tourism in Indonesia

Nickel extraction threatens archipelago tourism in Indonesia

A nickel mining project in Raja Ampat, Indonesia has raised significant environmental concerns due to its potential to harm the archipelago’s ecotourism industry.

Southeast Asia - Wed, June 11, 2025 | 8:43 pm GMT+7

Vingroup forms consortium with VinEnergo to develop LNG-fueled power plant in northern Vietnam

Vingroup forms consortium with VinEnergo to develop LNG-fueled power plant in northern Vietnam

Vingroup, Vietnam's leading private conglomerate, will join a consortium with VinEnergo, an energy firm majority-owned by billionaire Pham Nhat Vuong, to invest in a 4,800MW LNG-fueled power project in the northern port city of Hai Phong.

Energy - Wed, June 11, 2025 | 5:49 pm GMT+7

Techcombank wins Gold for Innovation in Cross-Media Marketing at 2025 Asia-Pacific Stevie Awards

Techcombank wins Gold for Innovation in Cross-Media Marketing at 2025 Asia-Pacific Stevie Awards

Techcombank has reaffirmed its position as a leading banking brand in Vietnam by Brand Equity Index (BEI), achieving the highest score in the Vietnamese banking industry for a second consecutive quarter in Q1/2025, according to market research firm NielsenIQ.

Companies - Wed, June 11, 2025 | 5:22 pm GMT+7

Tech giant Qualcomm launches AI R&D center in Vietnam, its third outside US

Tech giant Qualcomm launches AI R&D center in Vietnam, its third outside US

Qualcomm on Tuesday launched an AI research & development (R&D) center in Vietnam, after acquiring a 65% stake in AI company MovianAI from Vingroup, a leading Vietnamese conglomerate, earlier this year.

Industries - Wed, June 11, 2025 | 3:16 pm GMT+7

Vietnam seeks big investments in high tech, renewables, logistics: forum

Vietnam seeks big investments in high tech, renewables, logistics: forum

Vietnam is looking for critical private investments in the sectors of high technology, semiconductors, renewable energy (LNG, hydrogen, electric batteries), logistics, industrial park development, innovation, and digital transformation.

Economy - Wed, June 11, 2025 | 3:05 pm GMT+7