Construction Joint Stock Company 47 (CC47) is maintaining a good growth rate and meeting the set business targets thanks to a detailed strategy and strong determination. CC47 has currently completed all work items under the contract of two projects, the Da Nhim Hydropower Plant Expansion Project and the Tan My Irrigation System Project, and is still constructing major projects, including three new bidding packages in Binh Dinh and Lam Dong in 2021, as well as the expanded Hoa Binh Hydropower Package, which began earlier this year. The first six months of the year are expected to generate more than half of the year’s revenue and profit.
In the Package 12.01 (DNE-D1), Construction Joint Stock Company 47 is responsible for construction and architecture of the Da Nhim Hydropower Plant Expansion Project, which has a scale of 1 newly installed unit with capacity of 80MW. Until now, all work items specified in the contract have been completed. C47 is executing the remaining construction works to ensure the completion of Headrace Tunnel’s water filling on July 26, 2021 and try out 72-hour operation of unit H5 on August 8, 2021.
C47 has also completed all the work items under the contract of Package 20: Main dam and auxiliary dam No. 1 Tan My Irrigation System Project, Ninh Thuan province (including grouting, total construction site of the right bank of the Cai River, mechanical work, deep outlet, electrical operation, systematic control of the Cai River focal dam and auxiliary dam 1). In this project, C47 is the leading unit of the contractor consortium. Currently, C47 is executing the remaining construction works (Digging of scour holes in phase 2, operating electrical systems, finishing upstream and downstream surfaces, erecting dam face railings…). It is expected to be officially completed at the end of August 2021 in order to be handed over to the Investor for operation in September 2021.
The contract value of the Dong Mit Hydropower Plant Project, with a capacity of 7MW in An Trung commune, An Lao district, Binh Dinh province, is VND 29 billion. The total contract value for Package 7: C1-LAMDONG-W1 (Plot 1: Construction) of Sub-Project 02: Repairing and improving dam safety (WB8) in Lam Dong province is 106 billion dong.
Adhering to the motto “Quality and Time assurance is the brand”, CC47 aims to maintain business efficiency and safety, proactively respond to many scenarios of the Covid-19 pandemic. The Company has achieved basic business targets in the first 6 months, is continuing to expand the market and fulfil the annual business goal as set out. In 2021, CC47 is expected to win many new bidding packages with a total value of more than one trillion dong, ensuring the revenue for the following years.
Regarding the current contracts, CC47 cooperated with prestigious Investors, distributed adequate capital, and is granted a right to adjust prices when there is price fluctuation in labor salary, material and fuel cost, therefore risks of price surge disappear. On the other hand, in order to encourage economic development during the pandemic, the State is currently increasing public investment and accelerating the implementation of key projects on hydropower, irrigation and other infrastructure. This is also the opportunity and strength of CC47 to participate in bidding for projects in the future.
In terms of the business plan for the period 2021-2025, CC47 will continue to maintain the traditional business lines as general contractor for irrigation projects, large hydropower projects, headrace tunnels, etc. In addition, the Company takes advantage of construction experience to step into the construction fields of wind power, metro tunnels, traffic infrastructure, industrial zones’ infrastructure in Southeast and Southwest regions.
C47