SOL E&C's position on the map of Vietnam's construction industry

With a starting point of less than 500 billion VND, SOL E&C currently reaches a revenue of more than 4,200 billion VND per year, joining forces to create a new stable "empire" of the talented "captain" of the Vietnamese construction industry.

SOL E&C's position on the "map" of Vietnam's construction industry

With a starting point of less than 500 billion VND, SOL E&C currently reaches a revenue of more than 4,200 billion VND per year, joining forces to create a new stable "empire" of the talented "captain" of the Vietnamese construction industry.

“Saint Giong” of Vietnam's construction industry

In 2021, Mr. Nguyen Ba Duong reappeared as the Founding Chairman of SOL E&C after a period of anonymity since leaving Coteccons, believing that SOL E&C would develop into one of the leading general contractors in Vietnam.

After less than 4 years, this has become a reality. With a starting point of less than 500 billion, at present SOL E&C has reached a revenue milestone of more than 4,200 billion per year, contributing significantly to the total revenue of more than 1 billion USD per year for Mr. Nguyen Ba Duong's ecosystem. Affirming its position with an impressive growth rate, SOL E&C is likened to the "Saint Giong" of the modern Vietnamese construction industry.

SOL E&C is currently a prominent brand in the construction market, ranked by Vietnam Report in the TOP 5 prestigious general contractors in the construction industry, and is also the fastest growing contractor in the construction industry in 2022 and 2024, according to this prestigious ranking.

SOL E&C's "imprint" at the construction site of the super project Long Thanh International Airport.

Established in 2015, SOL E&C currently operates in the fields of general contracting, design, construction, and MEP. The company has made its mark in the market with more than 250 industrial and civil projects from North to South. In 2023, media reports said that SOL E&C continuously won bids and started a series of iconic projects in provinces and cities across the country, expanding its cooperation network with new investors. Notably, this is also the year that SOL E&C - part of the VIETUR consortium - won a bid worth more than VND 35,000 billion for the passenger terminal of Long Thanh International Airport.

In the field of FDI factories in particular and industrial buildings in general, SOL E&C is almost the market leader because this brand has been a partner of a series of multinational corporations such as Coca-Cola, Nestlé, Tetra Pak, Frasers Property, Cainiao Network (member of Alibaba Group), TTI Group, etc. Currently, SOL E&C is implementing large projects such as Tetra Pak Factory in Binh Duong and Coca Cola Vietnam Beverage Factory in Long An, and continuously receiving news of winning bids for billion-dollar construction projects from reputable investors.

In early November 2024, SOL E&C and two other enterprises in the ecosystem, Newtecons and Ricons, started the billion-dollar project LUMI Hanoi of investor CapitaLand Development. SOL E&C also started the luxury apartment project LUMIÈRE SpringBay of strategic partner Masterise Homes. "Finishing" at the end of the year with a series of key projects has guaranteed SOL E&C's continuous revenue growth over the years.

The "rebound" of SOL E&C

Explaining the growth of SOL E&C today, human resources and systematic investment in technology are the decisive factors. First, the name of Mr. Nguyen Ba Duong and generals such as Mr. Ngo Thanh Phong (formerly General Director of FDC, the predecessor of Newtecons) or Mr. Le Chi Trung (formerly General Director of Unicons) created "trust" for SOL E&C right from the first days of "launching" the market.

Mr. Nguyen Ba Duong (middle) with Mr. Ngo Thanh Phong (right) and Le Chi Trung (left) at the 2024 signing ceremony of SOL E&C.

With excellent corporate governance and an experienced leadership team, SOL E&C also possesses a high-quality staff. Currently, the company has nearly 600 employees including foreign experts, BIM engineers and a team of experienced and highly skilled engineers and architects who are confident in implementing difficult projects in Vietnam.

SOL E&C, with its commitment to innovation and continuous efforts, has been affirming its leading reputation in the construction industry by successfully implementing Building Information Modeling (BIM) technology in all stages of the project life cycle. Not only does it help optimize the design, construction, and operation of the project, BIM technology also improves quality, meeting the highest requirements of customers.

In particular, in the high-quality factory type, there are often many strict and rigorous technical standards, both complying with LEED/EDGE green building criteria, ensuring FM Approval and meeting QCVN and TCVN. This is very challenging for domestic contractors. However, SOL E&C with a team of highly specialized personnel, along with the support of world- leading technology, has successfully implemented large-scale projects.

Mr. Nguyen Ba Duong's ecosystem with 6 companies: Newtecons, Ricons, SOL E&C, BM Windows, BOHO Decor and DB will continue to be a new solid "empire" of the talented "captain" of the Vietnamese construction industry.

Source: https://baodautu.vn/dau-an-vi-the-cua-sol-ec-tren-ban-do-nganh-xay-dung-viet-nam-d232726.html