Vu Cong Hung, director of Licogi 16.6 Joint Stock Co (coded LCS) announced that in the first quarter of 2011, the company estimated to achieve total revenue of 200 billion dong, and profit of 7 billion dong. The company expected to gain whole year revenue of 611 billion dong and net profit of 20.6 billion dong this year.
On May 6, LCS will hold the ceremony for finishing the 1,000,000th concrete block in Ban Chat hydropower plant project that LCS was the second construction firm to have already completed after Song Da affiliate. In addition, the company has been selected as the winner for two bidding packages of constructing the controlling tower in projects of Sung Vui hydropower plant and Nam Khanh hydropower plant.
At present, LCS was preparing profile for participate in another bidding package for Dien Bien province-based Nam Muc hydropower plant project.
This year, the company planned to issue additional shares to raise chartered capital from 41 billion dong to 80 billion dong for purposes of making investment in the projects that had been approved by the management board previously.