Vietnamese builder Central acquires 51% stake in IDIC 620 to expand into transport infrastructure

Vietnamese builder Central Construction JSC has acquired a 51% stake in 620 Infrastructure Development and Investment Corporation (IDIC 620), marking its push beyond civil and industrial projects into the transport infrastructure sector.

Central Construction said the deal fills a strategic gap in its portfolio, giving it a foothold in road and bridge construction to complement its general contracting business.

Founded in 2005 as 620 Long An Concrete Plant, IDIC 620 initially focused on precast concrete production before diversifying into foundation, bridge, and road construction.

Its portfolio includes contracts for more than 1,800 Super T beams on the Saigon-Trung Luong Expressway, the HCMC-Long Thanh-Dau Giay Expressway (Package 5A), and the Cua Dai Bridge (Package 17).

Over two decades, the company grew its charter capital from VND42 billion ($1.6 million) to VND968 billion ($36.7 million) by 2017. It now generates annual revenue of about VND1.45 trillion ($55 million), establishing itself as a player in Vietnam’s transport infrastructure market.

Central Construction, co-founded in 2017 by former Coteccons deputy CEO Tran Quang Tuan with charter capital of VND100 billion ($3.8 million), has built several landmark projects, including Marriott Hanoi, Vinhomes Ocean Park, The Beverly Solari, Fairmont Hanoi, and Vinpearl Phu Quoc Aquarium.