On December 5, 2023, in Cao Bang, Deo Ca Group, in collaboration with Cao Bang Province, organized the conference "Joining Hands to Build Cao Bang." The conference introduced the 3P+ investment project management model and innovative project management capacity for the construction of the Dong Dang (Lang Son province) - Tra Linh (Cao Bang province) expressway.
Overview of the conference
Deo Ca Group leads the consortium of investors
During the conference, the People's Committee of Cao Bang Province announced the selection of the investor for the implementation of Phase 1 of the Dong Dang - Tra Linh expressway construction project under the PPP (Public-Private Partnership) model.
According to Decision 1269/QD-UBND issued by the People's Committee of Cao Bang Province, the consortium composed of Deo Ca Group Joint Stock Company, ICV Vietnam Investment and Construction Joint Stock Company, Deo Ca Infrastructure Investment Joint Stock Company, and Construction Joint Stock Company 568 has been chosen as the investor to carry out the PPP expressway project between Dong Dang and Tra Linh.
Mr. Ho Minh Hoang, Chairman of Deo Ca Group, emphasized the importance of unity and collaboration among all parties involved in order to successfully implement the project
Mr. Ho Minh Hoang acknowledged that despite encountering numerous challenges and obstacles throughout the project implementation, such as the incomplete regulatory framework regarding PPP investment and prolonged administrative procedures, both Cao Bang province and the proposed investor have demonstrated unwavering determination to adhere closely to the project objectives and strive for its successful completion.
The Chairman of Deo Ca Group emphasized that although the project has received an increased allocation of state capital from the National Assembly and the investor selection has been finalized, there are still subsequent steps to be undertaken. These include adjusting the investment strategy, entering into project contracts, securing credit agreements, adhering to the planned fund disbursement, conducting project settlement, and ensuring project auditing. These tasks demand a high level of focus and collaboration from all relevant parties involved.
Emphasized the Chairman of Deo Ca Group |
"The consortium of investors is fully conscious of the forthcoming challenges in project execution. We acknowledge that there are still several difficulties ahead, and it is imperative for all parties involved to work hand in hand, learn, and jointly address any policy and institutional hurdles that may arise."
Mr. Tran Hong Minh, Member of the Central Party Committee and Secretary of the Cao Bang Provincial Party Committee, presented the decision on investor selection
Regarding the progress of local activities in the project implementation, Mr. Tran Hong Minh stated that the relevant state authorities are actively coordinating with various ministries to promptly adjust the investment policy and project details following the National Assembly's resolution on the pilot mechanism to increase state capital participation in the project. Additionally, they are committed to completing negotiations, contract discussions, and signing agreements with the selected investor..
Mr. Tran Hong Minh, Member of the Central Party Committee and Secretary of the Cao Bang Provincial Party Committee, stated that there is active coordination with relevant ministries to adjust the project's direction following the resolution on the pilot mechanism to increase state capital
Mr. Hoang Xuan Anh commits to creating the most favorable conditions in Cao Bang for the investor to implement the project. He also expresses the desire for the investor to carry out the project effectively.
shared the Chairman of the People's Committee of Cao Bang province |
Mobilizing funds through the "3P+" model
The Dong Dang - Tra Linh expressway project is characterized by its large scale, complex nature, challenging natural conditions, and significant investment requirements. To effectively control the use of funds, Deo Ca Group, as the leading entity in the consortium of investors, has adopted the "3P+" implementation model. This model involves the contractor also serving as the investor, jointly carrying out the project through the Engineering, Procurement, and Construction (EPC) and Engineering, Procurement, and Construction Management (EPCM) general contractor approach, rather than engaging individual contractors.
The 3P+ approach is being implemented for the Dong Dang - Tra Linh project
The "3P+" implementation model is an initiative that has been developed based on the 15 years of experience of Deo Ca Group in investing, constructing, and managing large-scale transportation projects through PPP and public investment methods. This approach aims to optimize investment efficiency by reinvesting the profits from the construction contractor back into the project's capital. Additionally, the benefits and responsibilities of the contractor are closely linked to those of the investor, ensuring the effective implementation and operation of the project.
In the "3P+" funding model, the project's capital is sourced from various channels, which enhances the efficiency of capital mobilization and reduces risks throughout the project implementation process
Fundraising Model for the Dong Dang - Tra Linh Expressway Project
Ready for High-Quality Human Resources
To implement the Dong Dang - Tra Linh expressway and cultivate a skilled workforce, the Deo Ca Group places significant emphasis on training. The company prioritizes the development of its management team by collaborating with universities and assigning research topics to accomplished individuals pursuing master's and doctoral degrees. These research projects aim to address practical issues encountered by the company.
For the engineering team and technical staff, Deo Ca Group develops internal training programs based on the practical experience gained from implementing its projects, which are then disseminated to new personnel. Additionally, the Group collaborates with universities to provide knowledge on technology applications in project implementation.
According to Mr. Ho Minh Hoang, Deo Ca Group considers this project as a training ground for training workers, engineers, and management personnel. “We propose research topics that apply to the practical aspects of the construction site so that after completing the Dong Dang - Tra Linh expressway project, both the investor consortium and the transportation industry, in general, will have better-prepared human resources to meet the future infrastructure development needs," emphasized Mr. Ho Minh Hoang.
The practical-oriented training approach implemented in the project execution has received high praise from Associate Professor Dr. Nguyen Anh Tuan, Vice Rector of Ho Chi Minh City University of Transport
Associate Professor Dr. Nguyen Anh Tuan, Vice Rector of Ho Chi Minh City University of Transport, highly appreciates the practical-oriented approach to personnel training adopted by Deo Ca Group. He believes that Deo Ca Group is a pioneering organization in training personnel closely aligned with practical implementation. This is particularly evident in their execution of the challenging Dong Dang - Tra Linh expressway project, which involves numerous new management models, fundraising strategies, and advanced technologies. The success of the project relies on the presence of a competent workforce capable of handling real-world challenges.
Currently, Deo Ca Group is closely coordinating with local authorities to prepare for the groundbreaking of the Dong Dang - Tra Linh expressway project in the first half of 2024.
BY NGOC TRANG
