Saigon Ground Services SAGS won the bid for a project worth over 790 billion at Long Thanh airport

Saigon Ground Services Joint Stock Company (SAGS, HOSE: SGN) will lead the consortium to implement the project to invest in construction and business of equipment repair and maintenance services at Long Thanh airport.

SAGS provides aviation services for airlines - Photo: HONG PHUC.

Saigon Ground Services SAGS has just announced that it will implement an investment project to build and operate a repair and maintenance service for aviation vehicles and equipment and a ground technical commercial service No. 2 at Long Thanh International Airport.

Specifically, this company will implement the project according to the bidding documents of the consortium, with a total estimated investment of nearly 790.4 billion VND.

Accordingly, SAGS participated as the leading member of the consortium, contributing 75% of the capital, equivalent to more than VND 592 billion, while Hanoi Ground Services Joint Stock Company HGS contributed 25%.

The Chairman of the Board of Directors, the legal representative of SAGS, will negotiate and sign a business cooperation contract (BCC) between the company and HGS.

SAGS is a company specializing in providing aviation services such as parking services at ports, supplying fuel, lubricants, etc.

Regarding business activities, the company recorded accumulated net revenue for the first 9 months of more than VND 1,128 billion and net profit of more than VND 200 billion.

The company's total assets by the end of September 2024 are more than 1,448 billion VND.

Currently, Vietnam Airports Corporation owns 48.03% of SAGS capital.

The two remaining major shareholders are foreign investment fund America LLC (11.68%) and Vietjet Aviation Joint Stock Company (9.11%).

Recently, SAGS updated information on the service contract dispute lawsuit with Bamboo Airways Joint Stock Company.

According to the mediation results, Tre Viet Aviation must pay a total debt of more than VND68.5 billion to SAGS in three installments, lasting until 2028.

Source: https://tuoitre.vn/phuc-vu-mat-dat-sai-gon-sags-trung-thau-du-an-hon-790-ti-tai-san-bay-long-thanh-20241226152525596.htm