On 25/10/1995, Power Construction No 3 General Team was established in 1995 basing on the unification of power construction No 11 Team, Power Construction No 5 Team and Station Construction No 2 Team according to the Decision No1118 DVN/XLD3-TCCB-LD by the Director of Electricity Construction No 3 Company.
On 18/5/1999, Power Construction No 3 General Team was transformed into Nha Trang power construction enterprise which enjoyed not all the legal personality and entered in the accounts directly under Electricity Construction No 3 Company according to the Decision No 15/QD-HDQT of Vietnam Industrial Construction Corporation on.
On 10/5/2003, Electricity Construction company 3.9 was established basing on the reorganization of Nha Trang power construction enterprise according to the Decision No 2418 QĐ/XLD3-TH of the General Director of Electricity Construction No 3 Company.
On 06/12/2004, following the policy of innovation of our party and government on privatizing national enterprises, the Minister of Industry made Decision No 160/2004/QD-BCN approving to transform Electricity Construction Company 3.9 into Electricity Construction Joint Stock Company 3.9.
+ Present charter capital: 4.100.000.000 dong, in which government owns 25% of share capital.
+ English name: POWER CONSTRUCTION JOINT STOCK COMPANY 3.9
+ Abbreviated name: PCC 3.9
At the annual shareholders’ meeting celebrated in 2006, Electricity Construction Company 3.9 was renamed VNECO9 Electricity Construction Joint Stock Company.
+ Charter capital: 14.500.000.000dong
+ English name: VNECO9 Electricity Construction Joint- Stock Company
+ Abbreviated name: VNECO9
In July 2007, charter capital of the company increased 31 billion dong under shareholders’ proposals through documents at the extraordinary shareholders’ meeting.
On 20/11/2007, with the approval of the Director of State Securities Commission of Vietnam through the Decision No 207/UBCK-GCN, the company issued shares (stock code: VE9) to the stock market successfully.
At the beginning of privatization, the main operational field of the company was the power construction of small-sized projects and the implementation of works assigned by the corporation. In this stage, the charter capital was only 4.1 billion dong. However, VNECO9 rapidly stretched to the procurement market seeking projects in order to increase the company’s profits and guarantee enough jobs for laborers. The company has won many big contracts, which are typically Phu Quoc Diesel Thermoelectricity Plant, 110KV Ninh Hai substation, the connection of Mo cay-Ben Tre electric network with Ham Luong cross-river transit, DZ 220KV Ham Thuan- Phan Thiet, DZ 220KV Ba Ria-Vung Tau. Through actively carrying out the investment on functional machines and equipment together with constantly training and building a staff of workers and civil servants having the skilful technical standard, VNECO9’s capability and experience in the constructive field is being increasingly stated.
VNECO9 also has actively invested in tourism, starting with the Green Hotel Nha Trang project. The business operation of Green Hotel Nha Trang is becoming increasingly professional. The hotel has an average annual room rate over 85% and yearly increasing profit, which brings about the considerable effectiveness in the general business activities of VNECO9. Besides the reputable trademark Green Hotel Nha Trang, VNECO9 is investing in the construction of international standard 4-star hotel located at 44 Nguyen Thi Minh Khai street in Nha Trang city.
After three years’ privatization, the charter capital of VNECO9 increases 31 billion dong. Owning the capital accumulation constantly guaranteeing VE9 stock value and currently potential investment projects, VNECO9 completely believes in reaching chosen development objectives.