Cooperation agreements of Deo Ca Group and Tien Phong Commercial Joint Stock Bank (TPBank), Southeast Asia Commercial Joint Stock Bank (SeaBank) have just been signed at the Strategic Partnership Conference held by Deo Ca Group recently.

The cooperation agreements with banks and credit funds will be the basis for Deo Ca Group to have a stable source of credit capital to carry out key projects, promote the development of country’s transport infrastructure

Accordingly, Deo Ca Group signed a comprehensive cooperation agreement with TPBank and a credit financing cooperation agreement with SeaBank. The cooperation aims to promote the strengths of each party in the fields of business, prioritize credit financing, and strengthen comprehensive cooperation towards the goal of becoming each other’s strategic partners in the future.

Also in this conference, Deo Ca Group announced its development strategy for the period of 2022 -2025 with a vision to 2030 and cooperation methods for partners. Accordingly, along with the Government’s goal of building 5,000 km of expressways by 2030, Deo Ca Group continues to promote the development of transport infrastructure investment projects, construction and installation bidding packages, and operation and maintenance of traffic works. Besides, it is developing an ecosystem of real estate investment, industry and services associated with the traffic works and highways.

In 2021, Deo Ca Group recorded consolidated revenue of VND 3,853 billion, up 45.6% compared to 2020 and exceeding the plan by 20%. Profit after tax reached 410 billion, equal to 2.5 times in 2020, 157% higher than the plan.

With the results achieved in 2021, Deo Ca Group sets production and business targets for 2022 with the target of consolidated revenue of 4,578 billion VND, an increase of 18.8% compared to 2021. The following profit targets tax reached 472 billion dong, up 15.1% over the same period.

TPBank and SeaBank are major banks in Vietnam that are promoting capital investment for many transport infrastructure projects. In the cooperation agreement, the credit funds committed to approach, appraise and consider funding for the needs of short-term, medium-term capital and trade finance of Deo Ca through credit, corporate bond underwriting, construction bond, payment guarantee, contract performance guarantee… In addition, when signing, become a strategic partner with credit funds, Deo Ca will be applied preferential policies on interest rates, loan fees, etc.

Previously, on December 7, 2021, TPBank committed to grant a credit limit of VND 1,700 billion to Deo Ca Group to implement Cam Lam – Vinh Hao expressway project. During the signing ceremony, Mr. Dinh Tien Duc, Director of Thang Long branch (TPBank) shared: “After researching on funding the Cam Lam – Vinh Hao expressway project, in addition to seeing that the project has highly feasible, TPBank also highly appreciates the capability of investors in Deo Ca Group. We believe that with the financial potential, the experience of the investor as well as the companionship from the side and the Ministry of Transport, the project will be implemented and completed on schedule”.

In addition to the projects that have been and are being implemented, Deo Ca Group is currently conducting research on 15 major projects in 3 regions of North – Central – South, including North – South expressway projects, beltway projects belts 4 and 5 in Hanoi capital and beltway projects 3 and 4 in Ho Chi Minh City.

BY BAO NHU

Source: https://baodautu.vn/tpbank-va-seabank-hop-luc-cung-tap-doan-deo-ca-xay-dung-ha-tang-giao-thong-d163649.html