09:06 (GMT +7) - Tuesday 22/05/2018

Business

FECON's journey of success

Released at: 16:39, 17/05/2018 Vietnam golden dragon awards & Vietnam Excellent Brand Awards

FECON's journey of success

Mr. Pham Viet Khoa, FECON Chairman (3rd from right) at a sport event in celebration of the 13th anniversary of the company (Photo: FECON)

FECON JSC grows from small concern with staff of 15 in 2004 to major player in infrastructure construction.

The FECON Joint Stock Company was established in 2004 with only 15 staff in total, including leaders, engineers, and office workers, and had registered capital of VND2.5 billion ($110,000). Thirteen years later, in 2017, it had 17 subsidiaries and total assets of more than VND3.8 trillion ($166.8 million) and had successfully completed over 700 projects with a strong team of 2,000 staff. What lies behind FECON’s rapid growth story?

Pioneer in technology

Specializing in foundation engineering and underground construction, FECON selected the correct way to develop and affirmed its name in providing comprehensive solution packages, from inspecting, testing, designing, and producing to building, monitoring and providing maintenance during project operations.

FECON has left its mark in numerous key national projects, such as the Nghi Son Petrochemical Refinery, the Nghi Son 1 Thermal Power Plant, the Thai Binh 1 and 2 Thermal Power Plants, the Long Phu Thermal Power Plant, the Nhon Trach Thermal Power Plant, the Ho Chi Minh City - Long Thanh - Dau Giay Expressway, and the Da Nang - Quang Ngai Expressway, as well as prominent foreign direct investment (FDI) projects, including the Samsung Electronics Factory in Thai Nguyen, Bac Ninh, and Ho Chi Minh City, LG Electronics Hai Phong, and Metro Line No. 1 in Ho Chi Minh City.

Clearly defining its mission of developing research activities and applying advanced technology in foundation engineering, underground construction, and infrastructure development, to bring optimal solutions in both technology and cost to infrastructure constructions, maximize benefits for customers, and contribute to the sustainable development of the country, FECON constantly develops science and technology.

Advanced technologies FECON has been applying include soil improvements by a vacuum preloading method, soil improvements by sand compaction piles, soil improvements by high pressure grouting and drilling, the production and construction of PC/PHC spun piles, helical piles, bored piles in complex geological conditions, and other modern foundation designing, inspecting, and testing technologies. Most recently, FECON was proud to be the first Vietnamese construction contractor operating a tunnel boring machine (TBM), with support from Japanese experts, in the Metro Line No. 1 project in Ho Chi Minh City.

In addition to applying advanced technologies, FECON also bridges the geotechnical gap between Vietnam and developed countries by successfully organizing national conferences. GEOTEC Hanoi in 2010, 2013, and 2016 attracted more than 500 scientists from 30 countries, who came to study and exchange geotechnical knowledge for sustainable development.

Strong corporate culture

In order to master and effectively apply these technologies, FECON maintains high quality human resources. It has not only boosted its investment in research and the application of science and technology in its manufacturing operations and business activities but also focused on building a team of nearly 2,000 highly-skilled staff with good management capacity. The glue connecting all of these people together is FECON’s corporate culture.

Internal training, organizing exchange activities connecting people from the site and the office, and celebrating Women’s Day, Children’s Day, the Mid-Autumn Festival, and Christmas are among the regular activities FECON holds. Its trade union also works hard to protect the rights of workers, care for families in difficult circumstances or hit by sickness or disease, and help students overcome difficulties.

FECON has also implemented a host of meaningful community activities. It has assisted the studies of students in the Geotechnical Department at the Hanoi University of Mining and Geology and Transportation Engineering University since 2012, and funded the National Startup Program 2015 held by the Vietnam Chamber of Commerce and Industry (VCCI).

It also arranges visits to the elderly, presents scholarships to students with excellent achievements, participates in charitable activities, expresses its gratitude to those who contributed to Vietnam’s struggle for national liberation, supports heroic Vietnamese mothers, and gathers funds for flood or famine relief.

FECON’s business philosophy is that “Every business has the long-term objective of benefiting the country and the people”. And perhaps for this reason it is a cohesive and strong group; a prerequisite not only for success but also for reaching future ambitions.

FECON has set a revenue target of VND3.5 trillion ($153.6 million) in 2018 and a profit target of VND250 billion ($10.9 million). It invests in transport, energy, and urban-environmental infrastructure in Vietnam and is issuing shares to increase its charter capital and achieve its strategic objectives to 2020, becoming a leading corporation in infrastructure in the country. In its process of development, FECON has been recognized by many prestigious awards, such as Vietnam Strong Trademark, a Vietnam Gold Star Award, VNR500, FAST500, and Top 10 Building Contractors Reputation Award 2018.

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