(TCD) On December 21st, 2018, Transport and Industry Development Investment JSC (TRACODI) and Phan Vu Investment Corporation (Phan Vu Group) have entered a strategic agreement.

In the agreement, Phan Vu Group will provide its spun pile product for solar power projects implemented by TRACODI, and in the return, TRACODI will provide stone products of Antraco to Phan Vu Group.

Mr. Nguyen Thanh Hung – General Director of TRACODI (right seat) and Mr. Bui Duc Thong – General Director of Phan Vu Group signed coopration agreement.

Currently, TRACODI is the general contractor in charge of infrastructure construction for Solar Farm Project of BCG Bang Duong Energy JSC. The project, with a capacity of 40.6 MW which built on a land area of 50.2 ha, was approved by the Ministry of Industry and Trade. The solar farm is expected to be completed and put into operation before June 2019.

In addition, TRACODI will also implement two other solar projects in Long An which invested by its parent company BCG: GAIA 100MW and Sunflower 50MW.

TRACODI is expected to earn VND 800 billion in revenue which will not reach the set target of VND 1,150 billion due to its projects are under construction still, thus, revenue of construction sector will not be appeared on income statement 2018. Profit before tax will reach VND 96 billion, meeting the 2018 plan. TCD is expected to propose to the shareholders to approve the 2018 dividend payout rate of 15%.Phan Vu Group is one of the enterprises who is well-known with its spun pile product – a premium concrete pile product for construction.

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