Song Da Corporation targets $522 million revenue in ‘06

The Song Da Corporation this year aims to earn VND8.3 trillion (US$522 million) in revenue and invest VND5 trillion ($315 million), reported general director Duong Khanh Toan.

In reaching these goals, he said, the corporation would reorganize affiliates, improve management, emphasize key construction projects and diversify products.

Song Da aimed to finish installing generators at key hydroelectric construction sites Se San 3 and Se San 3A, located in the central highlands, and at the Thac Trang hydropower plants in Dien Bien Province.

In addition to investing in electricity, urban development, transport and industrial production, the corporation would expand to new fields such as low income housing and underground traffic systems for large cities, said Toan.

He said the corporation would strategize the shift into a parent-subsidiary model and would wrap up the share listings of its equitised affiliates on securities markets. The corporation would issue bonds for the VND260 billion ($16.4 million) HH4 building complex in the My Dinh – Me Tri urban area to attract more investment capital.

With investment from the Song Da Urban and Industrial Zone Development and Investment Joint Stock Company, a member of the corporation, the 25-floor twin tower of the HH4 project should be up and running by the fourth quarter of this year.

(Source: VNS)