On February 1st 2023, the leadership team of Construction Joint Stock Company 47 (HOSE: C47), comprised of Mr. Phong, Pham Nam, Chairman of the Board of Directors (BOD), and Mr. Quang, Duong Minh, Member of the BOD, General Manager, visited the Nam Phak Hydropower Project construction site in Lao People’s Democratic Republic and encouraged all employees. The C47 Board of Directors also met with Song Da 5 Joint Stock Company during this trip.

Nam Phak Hydropower Project is a large project requiring a high level of professionalism and the collaboration of some significant construction companies in Vietnam. C47 is also the constructor of Nam Pha, Nam Phak, and Phoupong Dams, with a total contract value of nearly VND 800 billion.

Nam Phak hydropower project is situated in the southwest corner of Bolaven Plateau, approximately 10 kilometers southwest of Paksong town in southern Lao PDR, and makes use of the 700-meter elevation difference between the plateau and the plain to the south. The project will collect flows from several northwest- and southwest-flowing streams on the plateau and redirect them through two streams to Nam Pha reservoir. The preferred plan consists of two reservoirs and two power generation facilities, the larger of which is situated on the shore of Houay Namphak at the base of the plateau cliff, with a total installed capacity of 128MW.

Since the project’s inception, C47 has utilized approximately 500,000 m3 of soil, excavated a variety of rocks, and simultaneously implemented measures such as excavating the left abutment foundation and the right abutment dam (Nam Pha, Phoupong, Nam Phak), etc.

The progress of the project requires both a capable workforce and suitable equipment. C47 prioritized securing experienced personnel and necessary equipment upon the execution of the contract to facilitate construction progress on the site. To date, C47 has assembled a team of approximately 185 employees and procured approximately 100 pieces of equipment, vehicles, and machinery, including dump trucks, excavators, bulldozers, drills, and others. Further workforce and equipment augmentations are anticipated in the future to maintain progress, with a particular focus on completing the foundations of Phoupong and Nam Pha dams, including the left abutment, right abutment, and riverbed, as the schedule.

According to the construction plan for the C47 project, more than 3,129,000 cubic meters of diverse soil and rock materials will be required to be excavated in the year 2023. C47 and Song Da 5 have collaborated to organize “Launching ceremony for the 120-day campaign to achieve the targets for the first 6 months of 2023”. The objective of this initiative is to complete the excavation plan while concurrently preserving the progression of the overall construction project.

In addition to implementing the Nam Phak Hydropower Project, C47 is currently focusing on accelerating the construction progress of key projects of the Company, such as: Hoa Binh Hydropower Plant Expansion Project (worth nearly VND 1,000 billion); Phu Phong Weir Dam Project (worth nearly VND 600 billion); Hoa Phat Dung Quat 2 Project (pre-tax valued VND 440.9 billion) and other projects to ensure a 2023 revenue plan value of VND 1,400 billion. C47 is also continuing to implement and bid on large projects to improve production scale, revenue, and profit to protect the interests of Shareholders and Company.

On January 5, 2023, in Hanoi, Vietnam Report JSC (Vietnam Report) and VietNamNet Newspaper held the VNR500 Announcement Ceremony. According to the announced rankings, this is the 15^th consecutive time for Construction Joint Stock Company 47 (HOSE: C47) ranked in the Viet Nam’s Top 500 Largest Private Enterprises, the first time C47 ranked in VNR500 is 2008.

The VNR500 entered it’s the 16th year on the journey to finding, recognizing and honoring the worthy achievements of the largest enterprises in Vietnam, gained the remarkable achievements in production and business activities. The main criterion to rank the enterprises is revenue, as per the Fortune 500 model (USA). In addition, VNR500 also judge the factors of total assets, total number of employees, growth rate, profit, reputation in the media to assess the current overall strength of the companies.

Being honored in the Viet Nam’s 500 largest enterprises for 15 consecutive years is an affirmation of the right development orientation of C47, thereby affirming the brand, prestige and professionalism in the management and operation, showing the suitability of the development orientation set out by the Company’s leaders.

Currently, C47 is the leading company in sector of the construction of irrigation, hydropower, civil and industrial projects across the country, of which very new technologies for the first time developed by C47 such as roller compacted concrete (RCC), tunneling technology using TBM Robot, etc., with many key projects worth trillions of Vietnamese dongs. In the last 15 years, C47 has completed more than 30 irrigation and hydropower projects national-wide, which have been making an important contribution to the management and efficient use of water resources, ensuring sustainability for the agricultural production and people’s lives. That’s why, Goal 6 (Clean Water and Sanitation) is one of the important Sustainable Development Goals that C47 always strives towards in its development journey.

Besides Goal 6, C47 is also working towards Goal 8 (Decent Work and Economic Growth), Goal 7 (Affordable and Clean Energy) and Goal 17 (Partnerships for the Goals).

Nam Phak hydropower project is located in the southwest corner of Bolaven Plateau, about 10km southwest of Paksong town in the southern of Lao PDR and takes advantage of the high elevation variations of 700m between the plateau and the plain to the south. The project will gather flows from several streams on the plateau flowing in the northwest and southwest directions and divert this flow through two streams to Nam Pha reservoir. The preferred scheme includes two reservoirs and two power generation facilities, of which the larger one is located on the shore of Houay Namphak at foot of the plateau cliff, the project with total installed capacity of 128MW. Construction Joint Stock Company 47 (HOSE: C47) is the constructor for Nam Pha, Nam Phak and Phouphong Dams, with total contracted value of nearly VND 800 billion.

Upon receiving the construction site on August 25, 2022, C47 promptly gathered manpower and construction equipment for speeding up the work items according to the approved construction plan.

As of date, the items such as Magazines, Workshop, Warehouses, Site Camps and Site Management Office, etc, have been basically completed by C47. In addition, the construction activities such as Site clearing work (right abutments of Nam Pha dam, Phou Pong dam, Disposal Areas No.1, 2 & 6) with completed volume over 287,000m2; The excavation of foundation pits, road embankment for access roads of TC12, TC04, TC06, R3 with completed volume of soil and rocks up to 84,000m3 that also met the projected schedule.

C47 is currently concentrating on manpower and equipment, executing three shifts per day for continuous construction, in which priority for construction of the dam foundation pits (Nam Pha, Phou Pong) to complete the target project milestones.

Appreciated for its construction capacity, progress and quality, Construction Joint Stock Company 47 (HOSE: C47) continued to be signed more contract amendments by the Client – Hoa Phat Dung Quat Steel JSC for additional workload with pre-tax value of more 201 billion VND, totaling the signed contract amount up to 440.9 billion VND.

On September 28, 2022, Construction Joint Stock Company 47 (HOSE: C47) was awarded and signed the Amendment No.6 to the Original Contract No.0388/2022/HDXD/HP-CC47 by the Client – Hoa Phat Dung Quat Steel JSC for additional workload under the Package of ground lowering construction of Zones 32A and 51A – Hoa Phat Dung Quat 2 Steel Integrated Complex Project valued more 201 billion VND, totaling the signed contract value before tax up to 440.9 billion VND.

Hoa Phat Dung Quat 2 Steel Integrated Complex Project, with a construction area of over 280 hectares, adjacent to Hoa Phat Dung Quat 1 Steel Integrated Complex Project, designed capacity of 5.6 million tons of hot rolled coil (HRC) per year, total capital of 85,000 billion VND invested by Hoa Phat Dung Quat Steel JSC and expected to be completed and put into operation in 2024.

Manpower and equipment are prerequisites to ensure completion of the schedule and workload that assigned to C47 by the Client. From the works commencement until now, C47 has concentrated all resources for the construction of items, excavation work to lower the ground of the project with total volume of about 2,500,000 m3 (of which: earth excavation nearly 1,100,000 m3, rock excavation nearly 1,400,000 m3).

Expected that next time C47 will increase additional manpower and equipment for the construction to ensure the progress, in which priority completing the deep excavation zone with volume of about 450,000 m3 by January 30, 2023 to hand over the site plan to the Client for their preparation of building the HRC plant facilities of the Project.

Besides the construction of Hoa Phat Dung Quat 2 Steel Integrated Complex Project, currently C47 is also undertaking the domestic and oversea large-scale projects that using mechanizations such as Nam Phak Hydropower Project in Lao PDR (C47’s value nearly 800 billion VND), Hoa Binh Hydropower Plant Expansion Project (C47’s value nearly 1,000 billion VND), Long Thanh International Airport Project, etc. C47’s mechanization capacity, only 2022, has been focused and approved to invest by the Board of Directors and Management Board appropriate to the development scale of the Firm and the specificity of each project, the professionalism in management and construction organization is trusted and highly appreciated by the Clients.

By the Client’s trust on capacity that awarded the Amendment No.6 for adding the workload and value at Hoa Phat Dung Quat 2 Steel Integrated Complex Project, C47 affirmed its brand, prestige and professionalism in management and construction of the projects undertaken by the Company. At the same time, showing the suitability on the Firm development orientation that BOD has set out for period of 2020 – 2025.

On September 8, 2022, at Hai Au Hotel, Quy Nhon city, Binh Dinh province, Construction Joint Stock Company 47 (HOSE: C47) celebrated the 47th Anniversary of the Company Establishment (September 8, 1975 – September 8, 2022). Attendance at the Ceremony were representatives of Leaders of People’s Committee, Leaders of Departments and Bodies of Binh Dinh province; The Employers; the joint ventures and associated units with C47; Members of the Board of Directors (BOD), the Board of General Directors, the Internal Audit Committee, the Executive Committee of the Party Committee, the Executive Committee of the Grassroots Trade Union, leaders of affiliated units, representatives of officials, staffs and employees of the whole Company and the retired employees for attending.

On September 8, 1975, Construction Joint Stock Company 47 was established by Ministry of Water Resources, now Ministry of Agriculture and Rural Development, on the basis of a Mechanical Construction Team of Zone V, named Irrigation Construction Company 7 under Ministry of Water Resources and tasked for construction of the irrigation and hydropower projects in the central and highlands provinces. Following policies of the Party and the State on the renewal and reorganization of State enterprises, on December 8, 2004, the Ministry of Agriculture and Rural Development made a decision to transform Construction Company 47 – a state-owned enterprise into Construction Joint Stock Company 47 dated July 01, 2005.

Over 47 years of establishment and development, the Company always affirmed its position in the field of construction of Irrigation and Hydropower Works; Hospitality Services, Domestic and International Tourism Services, etc. many the executed Works gained the Quality Award and highly appreciated by the Governmental bodies, departments and the Employers on its quality, schedule and fine arts. Since establishment in 1975, the Company has come into operation with many difficulties in all aspects, but the Company’s generations of employees have constantly strived, step by step set-up and totally controlled the construction technology for irrigation, hydropower, civil and industrial projects such as: RCC technology; headrace tunnel boring by TBM, etc. and for 14 consecutive years listed in Top 500 Largest Private Enterprises in Vietnam (VNR500). Currently, C47 is undertaking construction of large-scale projects in Vietnam and oversea such as: Tan My Irrigation System Project (Ninh Thuan province), Dong Mit Reservoir Project, Phu Phong Weir Project, Becamex Binh Dinh Industrial Park Project (Binh Dinh province), Hoa Binh Hydropower Plant Expansion Project (Hoa Binh province), Long Thanh International Airport Project (Dong Nai province), Hoa Phat Dung Quat 2 Iron and Steel Integrated Complex (Quang Ngai province), Nam Phak Hydropower Project (Lao PDR), etc.

Currently, the Company has more than 700 employees, 6 functional departments, 01 Mechanical Repair and Processing Enterprise, 7 Site Management Boards and two hotels (Hai Au Hotel – 4 stars) and (Hai Au Bien Cuong Hotel – 3 stars). Average revenue in the last 5 years reached 1,000 billion VND.

On this occasion, in order to recognize the contribution of employees to the development of the Company, the Board of Directors of the Company awarded medals to 29 employees who have worked at the Company for 20 years or more.

Order to promote the sport and physical training movement, the health training spirit of employees in the Company. Previously, C47 cooperated with Hai Au Hotels to organize the “47 Years – One Journey” Run Tournament with 172 athletes who are officers and employees of the Company and guests from the following units: Vu Phong Enery Group JSC, Van Phong Hydropower JSC, JS Commercial Bank for Investment and Development of Vietnam – Binh Dinh and Quy Nhon branches, Binh Dinh BIDV Insurance Company; Economic Security Department and Economic Police Department under Provincial Public Security for participating.