Construction company Vinaconex looks for the US market
Ha Noi, Feb. 13 (VNA) -- Buoyed by completing 61 percent of its yearly construction target in just two months, the VINACONEX Corporation is preparing for the United States market by investing VND 408.653 billion to upgrade equipment.
The corporation, judged the country's trendsetter by the Construction Ministry, is building a 100,000 tonne-a-year clinker mill and a 1.5 million cu.m. a year roofing plant. Its Director General Phi Thai Binh says both are expected to begin working in a few months.
Other major investment includes concrete frame production plants with combined capacity of 230,000 tonnes a year and water supply systems for the high-tech industrial estates of Hoa Lac, western Ha Noi, and Dung Quat, Da Nang province.
Binh says his company is now trying to become a major construction contractor beyond Viet Nam.
It is preparing to enter the United State market while maintaining its traditional markets in Laos, Algeria, Iraq, the Commonwealth of Independent States, East European and regional countries and expects to achieve USD 22.4 million export revenue this year, an increase of 26.5 percent over 2000.
So far this year, VINACONEX has completed 61 percent, worth VND 760 billion, of its construction and assembly scheme which is set at VND 1.5 trillion for this year, an increase of VND 100 billion over last year.
It has also embarked in major real-estate ventures such as the Trang Tien trade centre in central Ha Noi, a new metropolitan centre in Trung Hoa and Nhan Chinh, western Ha Noi, and a new residential quarter in Dich Vong district, in Ha Noi's outskirts.
Binh says that VINACONEX's target of gross revenue of VND 2.5 trillion and a growth rate of 7.71 percent this year is at hand.
Last year his company led the country in terms of construction and relevant business with a gross revenue of almost VND 2.4 trillion and contributed VND 74.56 billion to State revenue.
It won 522 construction contracts valued at more than VND 1 trillion.
From an entity specialising in the import-export of labour, materials and equipment for contruction, VINACONEX is now engaged in such activities as post-harvest processing, safe-water supply and liquid waste treatment.--VNA
