New bridge construction, approach road subsidence in Tay Ninh: "Familiar" contractor profile

At around 4am on May 11, the road leading to Hoa Binh Bridge (Hoa Hoi Commune, Chau Thanh District, Tay Ninh) suddenly collapsed, creating a hole about 3m deep. More than 2 weeks earlier, Hoa Binh Bridge had just been inaugurated.

According to a report by the People's Committee of Chau Thanh district and the Department of Construction of Tay Ninh province, the cause is predicted to be a local mud bag located under the bridge approach road that slid, causing subsidence of the roadbed and surface.

According to information from the Chau Thanh District Electronic Information Portal (Tay Ninh), the contractor for the Hoa Binh Bridge - the project that recently collapsed - is Vu Hoan Company Limited. This unit won the bid for the bridge construction and traffic assurance during the construction process with a winning bid price of 24.4 billion VND, to be implemented in 360 days. The bid package uses the provincial and district budgets.

According to the National Business Registration Portal, Vu Hoan Company Limited, located at Tan Hoa Hamlet, Tan Binh Commune, Tay Ninh City, Tay Ninh Province. The company was established in December 2008, with Mr. Vu Ngoc Hoan (born in 1977) holding the position of Chairman of the Board of Directors, Director and legal representative. The main business line is building houses for housing.

It is noted that in the past 5 years, Vu Hoan Company Limited has increased its charter capital many times. From 4 billion VND (2016), the company's charter capital has increased 50 times to 200 billion VND (2024).

Specifically, before March 2016, the company had a charter capital of 4 billion VND. Of which, Mr. Vu Ngoc Hoan contributed 3.2 billion VND, equivalent to 80% of the capital contribution, Mr. Vu Dinh Thiem contributed 800 million VND, equivalent to 20% of the capital contribution.

By the end of March 2016, the company increased its capital 5 times to 20 billion VND. The capital contribution ratio remained unchanged. Accordingly, Mr. Hoan contributed 16 billion VND, Mr. Thiem contributed 4 billion VND.

After nearly 5 years, the company increased its charter capital from 4 billion VND to 200 billion VND thanks to capital contributions from 2 individuals (Photo: Screenshot).

By July 2019, Vu Hoan Company Limited increased its capital to 60 billion VND. Of which, Mr. Vu Ngoc Hoan contributed 48 billion VND, equivalent to 80% of the capital contribution, Mr. Vu Dinh Thiem contributed 12 billion VND, equivalent to 20% of the capital contribution. By February 2021, the enterprise increased its capital to 80 billion VND, the capital contribution ratio remained the same.

Most recently, in January 2024, the company increased its capital from VND 80 billion to VND 200 billion. The shareholders contributing capital are still Mr. Hoan, contributing VND 160 billion, and Mr. Thiem, contributing VND 40 billion. Mr. Vu Ngoc Hoan still holds the position of Chairman of the Board of Directors, Director, and is the legal representative of the enterprise.

On the company's website, the company introduces itself as a leading unit in the field of construction of civil houses, schools, and administrative agencies in Tay Ninh. Projects that have been constructed include the Tay Ninh Provincial Post Office, Tan Bien District Party Committee, Tan Bien District Medical Center, Huong Duong Kindergarten, Tan Bien District Department of Education and Training, Truong Nu Vuong Street...

To date, local authorities have not yet announced the conclusion of the collapse of the Hoa Binh bridge approach road. Experts say that the responsibility does not necessarily lie with the construction contractor but should consider the possibility of errors in the survey and technical design stages.

According to information from the national bidding network, Vu Hoan Company Limited participated in 75 bidding packages in Tay Ninh province, of which it won 65 packages, failed 9 packages and canceled 1 package.

Source: https://dantri.com.vn/kinh-doanh/cau-moi-xay-sut-lun-duong-dan-o-tay-ninh-ho-so-nha-thau-quen-mat-20250515023818248.htm