The 35,000 billion VND package for Long Thanh airport terminal belongs to Vietur Joint Venture

The consortium led by Türkiye and businesses in Mr. Nguyen Ba Duong's ecosystem won the 35,000 billion VND bid for Long Thanh airport.

On the evening of August 24, Vietnam Airports Corporation (ACV) - the investor of Long Thanh airport project, announced that Vietur Joint Venture won the bid for package 5.10 for construction and equipment installation of the passenger terminal. The winning bid price was over VND27,800 billion and nearly USD339 million (over VND8,100 billion).

The contract implementation period is 1,170 days, equivalent to 39 months. Previously, the investor planned to start construction at the end of August. Thus, Long Thanh airport terminal is expected to be completed by the end of November 2026.

The Vietur consortium consists of 10 enterprises, led by IC Istas (part of Türkiye's IC Holdings). The remaining members include Mr. Nguyen Ba Duong's ecosystem such as Ricons, Newtecons, Sol E&C; state-owned enterprises such as Construction Corporation No. 1, Vinaconex, Hanoi Construction Corporation and other units such as Phuc Hung Holdings, ATAD and Hawee.

Among them, the Turkish contractor introduced that it had built Pulkovo airport in Russia, Varna Burgas in Bulgaria, and the rest were airports in its home country Türkiye. On the domestic side, Vinaconex had won many bids in the airport sector. ATAD also has experience in constructing steel structures for many domestic airports.

Vietur is one of three companies participating in the second round of bidding, along with Hoa Lu Joint Venture and CHEC-BCEG-Vietnam Contractors. In early August, Vietur was the only joint venture that ACV rated as meeting technical requirements. After the first round of bidding, Hoa Lu Joint Venture accused Vietur Joint Venture of violating bidding regulations and not meeting the technical requirements of this bidding package.

ACV responded that the evaluation of bid documents was carried out in accordance with the procedures of the law on bidding. "The inviting party affirms that the evaluation of the bidder's technical documents was thorough, fair and honest," the document signed by Deputy General Director Nguyen Tien Viet stated.

On August 21, Deputy Prime Minister Tran Hong Ha assigned the Ministry of Planning and Investment, the Ministry of Transport and the State Capital Management Committee at Enterprises to guide ACV in evaluating the bidding documents. The Government leader stated the spirit of ensuring transparency, efficiency and not allowing delays.

Long Thanh Airport is a national key project consisting of many component projects. Of which, package 5.10 - construction and installation of passenger terminal equipment, with a total value of more than 35,000 billion VND is the largest item.

According to calculations by the analysis team of Ban Viet Securities (VCSC), the maximum total profit for a contractor participating in the 5.10 package is about VND 525 billion. This profit level is relatively large compared to the average annual net profit in the period of 2019-2022 of enterprises in the Vietur Joint Venture such as Ricons, Vinaconex, CC1, HAN, Phuc Hung Holdings.

Siddhartha

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