On February 1st 2023, the leadership team of Construction Joint Stock Company 47 (HOSE: C47), comprised of Mr. Phong, Pham Nam, Chairman of the Board of Directors (BOD), and Mr. Quang, Duong Minh, Member of the BOD, General Manager, visited the Nam Phak Hydropower Project construction site in Lao People’s Democratic Republic and encouraged all employees. The C47 Board of Directors also met with Song Da 5 Joint Stock Company during this trip.

Nam Phak Hydropower Project is a large project requiring a high level of professionalism and the collaboration of some significant construction companies in Vietnam. C47 is also the constructor of Nam Pha, Nam Phak, and Phoupong Dams, with a total contract value of nearly VND 800 billion.

Nam Phak hydropower project is situated in the southwest corner of Bolaven Plateau, approximately 10 kilometers southwest of Paksong town in southern Lao PDR, and makes use of the 700-meter elevation difference between the plateau and the plain to the south. The project will collect flows from several northwest- and southwest-flowing streams on the plateau and redirect them through two streams to Nam Pha reservoir. The preferred plan consists of two reservoirs and two power generation facilities, the larger of which is situated on the shore of Houay Namphak at the base of the plateau cliff, with a total installed capacity of 128MW.

Since the project’s inception, C47 has utilized approximately 500,000 m3 of soil, excavated a variety of rocks, and simultaneously implemented measures such as excavating the left abutment foundation and the right abutment dam (Nam Pha, Phoupong, Nam Phak), etc.

The progress of the project requires both a capable workforce and suitable equipment. C47 prioritized securing experienced personnel and necessary equipment upon the execution of the contract to facilitate construction progress on the site. To date, C47 has assembled a team of approximately 185 employees and procured approximately 100 pieces of equipment, vehicles, and machinery, including dump trucks, excavators, bulldozers, drills, and others. Further workforce and equipment augmentations are anticipated in the future to maintain progress, with a particular focus on completing the foundations of Phoupong and Nam Pha dams, including the left abutment, right abutment, and riverbed, as the schedule.

According to the construction plan for the C47 project, more than 3,129,000 cubic meters of diverse soil and rock materials will be required to be excavated in the year 2023. C47 and Song Da 5 have collaborated to organize “Launching ceremony for the 120-day campaign to achieve the targets for the first 6 months of 2023”. The objective of this initiative is to complete the excavation plan while concurrently preserving the progression of the overall construction project.

In addition to implementing the Nam Phak Hydropower Project, C47 is currently focusing on accelerating the construction progress of key projects of the Company, such as: Hoa Binh Hydropower Plant Expansion Project (worth nearly VND 1,000 billion); Phu Phong Weir Dam Project (worth nearly VND 600 billion); Hoa Phat Dung Quat 2 Project (pre-tax valued VND 440.9 billion) and other projects to ensure a 2023 revenue plan value of VND 1,400 billion. C47 is also continuing to implement and bid on large projects to improve production scale, revenue, and profit to protect the interests of Shareholders and Company.