Contract signing ceremony between Tasco and the Eastern Sea Project Management Unit

Tasco Joint stock Company has just won the bid package No. 11 on building two bridges: Ngam Bridge and 1-5 Bridge in Nam Dinh province under the Credit Project on improvement of national Highway Network of the Transport sector. The total value of the contract is approximately 35 billion dongs. The loan capital will be taken from Japanese Bank for International Cooperation (JBIC). The Project Owner is Vietnam Roads Bureau, and bid inviter is Eastern Sea Project Management Unit.On 18 June, the signing ceremony of the above contract was held between the Bid Inviter and Tasco Joint Stock Company in the office of Eastern Sea Project Management Unit.

In the context of continuous escalating price, the contract allowed the Contractor to adjust price slippage right from the commencement to the completion of the works (pursuant to Document No. 2894/BGTVT-CGĐ). This created a fair playground for contractors in the context of fluctuating price of materials, fuels, and resolved difficulties in price adjustment to avoid loss possibly incurred by the contractor during the construction.

In the speech made at the signing ceremony, the representative of Vietnam Roads Bureau, leaders of Eastern Sea Project Management Unit congratulated the Contractor for his effort and courage to win the bid in the current situation of price fluctuation. As the Owner, Vietnam Roads Bureau, Eastern Sea Project Management Unit committed to have close cooperation with one another to solve out all questions of the Contractor and hold hand with the Contractor to overcome difficult stage of the economy.

The Bid Package No. 11 under the credit project is granted with abundant funds. The Investor called the Contractor to make serious implementation of commitment contained in the contract; to make use of the funds for right purposes, and to ensure labor safety, work progress, and quality.

On behalf of Tasco, the General Director of the Company expressed his gratitude to Vietnam Roads Bureau, Eastern Sea Project Management Unit for creating a fair playground and for their efforts to resolve the difficulties in local contribution, price adjustment procedures faced by the Enterprise. The Company showed its determination to carry out the bid package effectively, to keep trust from the Owner and maintain its prestige. The Company will closely cooperate with relevant parties to deploy the project in safe manner and to ensure proposed progress and quality.