Tracodi, Soc Trang province team up in transport infrastructure development
Transport and Industry Development Investment JSC (Tracodi), a Bamboo Capital Group member, and Soc Trang have launched their cooperation in the province’s transport infrastructure development.
The Ho Chi Minh City-based firm, under a memorandum of understanding signed with Soc Trang authorities on Tuesday, plans to invest an estimated VND6,500 billion ($281 million) in the Mekong Delta province.
After research, Tracodi will make proposals to build a key north-south road and 934B Road in Soc Trang. Further works, including assessment and legal procedures, will follow.
Soc Trang offers lots of development potential like the planned Soc Trang seaport, expected to become a key port in Mekong Delta, Vietnam’s rice bowl. The province’s connectivity with other Mekong Delta localities will also be enhanced thanks to different regional expressway, road and bridge projects already planned at national level.
A corner of Soc Trang town, capital of Soc Trang province, southern Vietnam. Photo courtesy of Vietnam News Agency.
Tracodi’s backlog value has reached almost $368.2 million, assuring its income for at least the next two years. It was awarded the $17.6 million Phan Thiet Airport taxiway construction contract at the end of 2021, a public investment project in the south-central province of Binh Thuan, on which it will focus in the first half of 2022.
At Tracodi’s recent annual general meeting, shareholders approved a merger and acquisition (M&A) plan of Bang Duong E&C JSC, specialized in construction of transport infrastructure projects.
They also voted for proceeding the M&A of a new quarry in Binh Thuan, with a scale of 18.5 hectares, reserves of over 13 million cubic meters, and mining time to 2036.