Deputy Prime Minister Trinh Dinh Dung has just sent a document to the Ministry of Planning and Investment, Ministry of Industry and Trade, Vietnam Oil and Gas Group (PVN), Vietnam Gas Corporation (PV GAS) on selecting contractors for products belonging to PV GAS' internal units in special cases.
Accordingly, the Deputy Prime Minister approved Petrovietnam Steel Pipe Joint Stock Company (PVPipe), Coating Joint Stock Company Vietnam Petroleum Pipe (PVCoating) is allowed to provide straight welded steel pipe products - submersible arc welded (LSAW) and pipe coating services of all kinds for bidding packages of projects invested by PV GAS according to the provisions of Clause 5, Article 2 of Decree No. 63/2014/ND-CP with a validity of 3 years from the date the Prime Minister allows application.
Along with that, the Deputy Prime Minister also approved the application. form of contractor selection in special cases specified in Article 26 of the 2013 Bidding Law for bidding packages to provide products and services under 2 projects: Phase 2 of the adjusted Nam Con Son 2 gas pipeline project and the Block B - O Mon gas pipeline project that only PVPipe and PV Coating provide in the domestic market according to the plan proposed by PV GAS.
In which, the Deputy Prime Minister requested PV GAS must ensure the selection of a contractor that meets the requirements of the bidding package, ensuring progress, price and economic efficiency of the bidding package and project, not allowing any loss or waste during the implementation process.
It is known that in the first 6 months of 2018, PVPipe and PVCoating both recorded many efforts in production and business activities.
With the signing of pipe coating construction contracts, in the first 6 months of the year In 2018, PV Coating's production and business results grew highly, with revenue of 136.5 billion VND, an increase of more than 2 times compared to the same period in 2017; Profit after tax was 27.3 billion VND, far exceeding the figure of 0.4 billion VND in the same period in 2017. Earnings per share (EPS) in the first 6 months of the year reached 1,262 VND. In 2018, PVCoating set a profit after tax plan of 28 billion VND, with the results in the first 6 months of the year as above. PVCoating has completed 98% of the set profit target after only 6 months.
In recent days, PVCoating's PVB stock has had a quite strong breakthrough. In the trading session of September 12, PVB increased its entire range (nearly 10%) to 18,400 VND and in the morning session of September 13, this stock continued to increase to the ceiling to 20,200 VND.
Operations in the field of petroleum steel pipe production, in the first 6 months of the year In 2018, PV Pipe produced 324 tons of pipes (serving the needs of Kurihara Vietnam, Nhat Tinh Environmental Technology Solutions, An Hoang Phat, Mitsui Vietnam), bringing in revenue of 7.3 billion VND. It is expected that PV Pipe will have new opportunities in future projects such as Block B gas pipeline project, Nam Con Son 2 gas pipeline project - phase 2, Dung Quat Oil Refinery upgrade and expansion project; some oil and gas projects, civil projects on water treatment or wind power...