Grown up like a puff of air

As reported by VietNamNet , the Ministry of Public Security's Investigation Police Agency (C03) has initiated a case of "Violating bidding regulations causing serious consequences; Giving bribes; Receiving bribes" occurring at Thuan An Group Joint Stock Company (Thuan An Group) and related units and organizations.

The Ministry of Public Security's Investigation Police Agency simultaneously issued decisions to prosecute, arrest and search six suspects, including Mr. Nguyen Duy Hung, Chairman of the Board of Directors of Thuan An Group Corporation, for the crimes of "Violating bidding regulations causing serious consequences" and "Giving bribes", as stipulated in Clause 3, Article 222 and Clause 4, Article 354 of the Penal Code.

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Mr. Nguyen Duy Hung, Chairman of Board of Directors of Thuan An Group Corporation

The company's website is currently inaccessible. Thuan An Group, formerly Thuan An Construction and Trade Development Joint Stock Company, is chaired by Mr. Nguyen Duy Hung.

Thuan An Group is known as a corporation specializing in the field of investment and construction of technical infrastructure works, trading in electricity and renewable energy, and real estate trading and investment.

The company was established in August 2004 with a modest charter capital of 3.9 billion VND.

In the period 2011-2018, Thuan An Group started the path of expanding its scale with the goal of building technical infrastructure with 3 times of charter capital increase, all calculated by times. By 2014, the registered capital of the enterprise had reached 300 billion VND, an increase of nearly 80 times after 10 years.

In 2021, the company continued to increase its charter capital nearly 3 times (800 billion VND, more than 200 times higher than when it was first established).

In recent years, Thuan An has continuously won dozens of construction contracts, including contracts worth several hundred billion VND.

As an independent contractor or a member of a joint venture, Thuan An is currently executing a series of bid packages in many provinces and cities across the country.

In 2023, the joint venture of Construction Corporation No. 1 - Truong Son Construction Investment Joint Stock Company - Dat Phuong Group Joint Stock Company - Thuan An Group won package No. 11-XL: Construction of Dai Ngai 2 bridge project, route and works on the route with a package price of VND 2,073 billion, winning bid price of VND 1,727 billion.

The joint venture Thuan An Group - Phuong Nam Construction and Mechanical Joint Stock Company - Bac Trung Nam Infrastructure Construction Joint Stock Company - 168 Vietnam Construction Group Joint Stock Company won the construction package No. 02: Construction of section Km22+000 - Km32+000 of the Khanh Hoa - Buon Ma Thuot Expressway Construction Investment Project, Phase 1 with a winning price of 2,078 billion VND.

Thuan An Group - 168 Vietnam Construction Group Joint Stock Company also won the bid package No. 04-XL to construct the section from Km12+500 to Km19+120 of the Tuyen Quang - Ha Giang Expressway Project (Phase I), the section through Ha Giang province with a winning bid price of more than 815 billion VND...

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Dong Viet Bridge Project, the first and largest cable-stayed bridge in Bac Giang province. Photo: Tien Phong

Other packages named Thuan An include package No. 5 for the construction of the Thang Long Bridge repair project in Hanoi, which was awarded in July 2020 with a price of VND 242.846 billion; package XL10 of the North-South Expressway project, Cam Lo - La Son section, which was awarded in December 2019 with a price of VND 639.407 billion.

This enterprise also won bid package No. 01EC under the project of the level-separated traffic intersection of Road No. 2, urban area of ​​South Tuy Hoa City - Nguyen Van Linh Street (Phu Yen province), won the bid in March 2019 with the price of 496.034 billion VND; bid package No. 14 under the project of upgrading and expanding National Highway 15A, section Km301+500 - Km333+200, Nghe An province with the winning bid price of 60.006 billion VND.

At the construction project of Dien Bien Phu - Nguyen Tri Phuong intersection under the Da Nang City Sustainable Development Project, Thuan An, as a joint venture, is also the contractor implementing the project, with a contract value of nearly 120 billion VND.

Rise from bridge building

In recent years, this group has emerged as a contractor in bridge projects. These include the Rut River Bridge project on the highway connecting Ha Long with Bach Dang; Cua Hoi Bridge - Extradosed cable-stayed bridge across Lam River; Vinh Tuy 2 Bridge - gateway to Hanoi Capital; Rach Mieu 2 Bridge...

Another project that Thuan An Group Corporation is constructing is the Ky Lo bridge project - the longest bridge (1.8km) on the North-South expressway, Quy Nhon - Chi Thanh section.

Thuan An Group is also one of the two main contractors constructing the May Chai cable-stayed bridge connecting Cau Tre canal (Ngo Quyen) to Vu Yen island (Thuy Nguyen, Hai Phong city) with a total investment of over 2,000 billion VND by a private group as the investor. The project is located right at the estuary with large tonnage ships coming and going.

At the Dong Viet cable-stayed bridge project connecting Bac Giang and Hai Duong provinces, Thuan An is the contractor undertaking the largest volume of work in the project with a construction value of nearly VND800 billion out of a total investment of more than VND1,400 billion.

The investor of this project is the Project Management Board (PMU) for Investment and Construction of Traffic and Agricultural Works of Bac Giang province.

Among the 6 defendants, C03 also issued decisions to prosecute the defendants, arrest warrants for temporary detention, and search warrants for Mr. Nguyen Van Thao, Director, and Dam Van Cuong, Deputy Director of the Management Board of Investment and Construction of Traffic and Agricultural Works of Bac Giang Province for the crimes of "Violating bidding regulations causing serious consequences" and "Receiving bribes", as prescribed in Clause 3, Article 222 and Clause 4, Article 354 of the Penal Code.

Mr. Hoang The Du, Head of the Department of Project Management of Bac Giang province, for the crime of "Violating bidding regulations causing serious consequences", stipulated in Clause 3, Article 222.

The Investigation Police Agency prosecuted the case that occurred at Thuan An Group Joint Stock Company; issued a decision to prosecute the accused, an arrest warrant for temporary detention, and a search warrant for 6 accused, including the chairman of this company.
Phuc Son's strange journey from a district-level enterprise to a trillion-dollar corporation Phuc Son Group Joint Stock Company has been operating since 2004, with a moderate scale, at the district level in the construction and installation sector. 10 years later, this company owns 21 projects, with a total investment of over 40,000 billion VND, while the business results are not very impressive.