PetroVietnam Construction targets 731 billion dong

PetroVietnam Construction Corp. said it is targeting pretax profit of 731 billion dong (US$39.59 million) this year, up from 245 billion dong (US$13.27 million) last year. The company said in a statement that its revenue in 2010 is expected to grow 88% to 7 trillion dong (US$379.10 million), backed by the construction contracts it got last year. It said it was awarded 30 contracts and won 14 others last year with a total value of 12.54 trillion dong (US$679.12 million). The biggest of the contracts include building the Nhon Trach 2 power plant, Dinh Vu polyester staple fiber plant, Vung Ang power plant and an ethanol plant in northern Vietnam. (January 14, 2010)