SongDa

What SongDa does

Tổng công ty Sông Đà - CTCP (SongDa) is a Vietnamese state-owned construction and energy conglomerate headquartered in Hanoi, founded in 1961 and listed on the Hanoi Stock Exchange (hnx:SJG). The company operates across three primary business lines: (i) EPC general contracting for hydroelectric plants, underground works, civil and industrial buildings, and transportation infrastructure; (ii) ownership and operation of hydroelectric and solar power generation assets that sell electricity to the national grid under offtake arrangements with EVN; and (iii) commercial real estate development and office leasing centered on Song Da Tower in Hanoi's Mễ Đình/Mễ Trì area. SongDa owns or controls subsidiaries running major plants including Hòa Bình, Sơn La, Lai Châu, Yaly, Sesan 3A, Xekaman 1 (Laos), and Tuyên Quang, alongside the Phong Phú solar facility.

Technically, SongDa differentiates on decades of accumulated specialty construction know-how — roller-compacted concrete (RCC) dam technology, double-formwork systems, tunnel construction with foundation treatment and waterproofing — and on operational systems for its owned plants including a Distributed Control System (DCS) and a Decision Support System (DSS) for hydrology forecasting, flood control, and dispatch optimization. The company employs 6,771+ staff (per its own website), holds approximately 9,500 tỷ VND (VND 9.5 trillion) in FY2025 revenue, over 30,000 tỷ VND in total assets, and 7,365 tỷ VND in equity. Customer concentration is structurally high: revenue is largely dependent on Vietnamese government agencies and state-owned counterparties — primarily EVN (electricity offtake), TKV and PVN (industrial/infrastructure projects) — with additional financial partnerships with VietinBank, Vietcombank, Military Bank, and PVcombank. SongDa's customer-acquisition model is relationship-driven B2G/government tendering rather than commercial sales; pricing for construction contracts is set through competitive tender and electricity tariffs are regulated.

Name

SongDa

Legal name

Tổng công ty Sông Đà - CTCP

Website

https://songda.vn

Company type

Public

Founded year

1961

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

SongDa is a Vietnamese state-owned construction and energy conglomerate that provides EPC contracting for hydropower and civil infrastructure, owns and operates hydroelectric and solar power plants, and leases commercial real estate in Hanoi.

Ownership category

akta.pro rank

Product category

Heavy Civil Construction and Infrastructure

NAICS

Hydroelectric Power Generation (221111), Power and Communication Line and Related Structures Construction (237130)

SIC

Water, Sewer, Pipeline, Comm & Power Line Construction (1623), Engines & Turbines (3510)

akta.pro primary industry

Hydro BOP Civil & Water Conveyance (Dams, Spillways, Penstocks, Canals) (EUAMAFAG)

akta.pro secondary industries

Balance-of-Plant (BOP) & Civil Works for Power Plants (EUAEAAAL), Civil & Site Works EPC (Earthworks, Roads, Drainage, Foundations) (EUAEADAA), Structural & Mechanical BOP Construction (Racking/Trackers, Turbine Erection Support, Mounting Structures) (EUAMAFAC)

Keywords

• Hydroelectric construction
• EPC contracting
• Hydropower generation
• Infrastructure construction
• Underground engineering

Headquarters

HQ city

Hanoi

HQ country

Vietnam

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Supply Chain, Technology or R&D

Revenue model

1. EPC Construction Contracts: General contracting services (Tổng thầu xây lắp & EPC) for hydroelectric plants, underground structures, civil and industrial buildings, and transportation infrastructure. Revenue is project-based, derived from government and enterprise construction contracts awarded through competitive tendering.
2. Electricity Generation and Trading: Operation and management of owned hydroelectric power plants and solar power facilities for domestic electricity generation and trading (Sản xuất, kinh doanh điện). Revenue is derived from electricity sales to the national grid under power purchase agreements.
3. Real Estate and Office Leasing: Commercial real estate leasing including office space in the Song Da building at My Dinh, Hanoi, and urban development projects (Bất động sản và Cho thuê Văn phòng). Revenue is recurring rental income from commercial tenants.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

SongDa is a Vietnamese construction and energy conglomerate that provides general contracting and EPC services for hydroelectric power plants, underground works, civil/industrial buildings, and transportation infrastructure. It also owns and operates multiple hydroelectric and solar power plants for electricity generation and trading under regulated power purchase agreements with EVN, and develops/leases commercial office space in Hanoi.

Product overview

Tổng công ty Sông Đà - CTCP (SongDa) is a Vietnamese state-owned enterprise operating as a multi-sector conglomerate. The company operates primarily as a general contractor for construction and EPC projects, with core competencies in hydroelectric power plant construction, underground works, civil and industrial construction, and transportation infrastructure. SongDa also manufactures cement and steel products, operates hydroelectric power plants for electricity generation and business, and provides real estate and office leasing services. The company maintains ownership in multiple subsidiary hydroelectric plants across Vietnam and internationally, with a portfolio spanning 60+ years of experience, over 30,000 billion VND in total assets, and approximately 9,500 billion VND in annual revenue. SongDa has constructed major national landmarks including the National Assembly House, My Dinh National Stadium, and multiple hydroelectric facilities.

Differentiator

Problem solved

Functional benefit

Products and services

• Tổng thầu xây lắp & EPC (General Contracting and EPC) General contractor and EPC services for large-scale national infrastructure and hydroelectric projects, covering full project lifecycle from design to commissioning for government and SOE clients.
• Xây dựng Thủy điện (Hydropower Construction) Construction of hydroelectric power plants including dam construction, turbine installation, and power generation facility development using RCC concrete, double-formwork, and specialized construction technologies.
• Công trình ngầm (Underground Construction) Underground construction services including tunnels, underground passages, and subsurface infrastructure with specialized foundation treatment and waterproofing capabilities.
• Dân dụng và Công nghiệp (Civil and Industrial Construction) Civil and industrial construction services for residential, commercial, and industrial buildings and facilities, including national landmarks such as the National Assembly House and My Dinh National Stadium.
• Công trình giao thông (Transportation Infrastructure) Transportation infrastructure construction services including roads, highways, bridges, and highway tunnels.
• Sản xuất, kinh doanh điện (Electricity Generation and Trading) Electricity generation and trading operations through ownership and operation of multiple hydroelectric power plants (Hoa Binh, Son La, Lai Chau, Yaly, Sesan 3A, etc.) and solar facilities selling to the national grid under regulated EVN power purchase agreements.
• Bất động sản và Cho thuê Văn phòng (Real Estate and Office Leasing) Real estate development and office space leasing services including the Song Da TwinTower HH4 mixed-use building and the Song Da Building at My Dinh, Hanoi, generating recurring rental income from corporate tenants.

Named customers7 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Three partnerships are on record, tiered core and minor.

• Tập đoàn Điện lực Việt Nam (EVN)coreTechnology or IntegrationEVN is Vietnam's state electricity utility and the primary offtaker for SongDa's hydroelectric and solar power generation. SongDa builds and operates power plants that feed electricity into the national grid under EVN's management. This is a core operational partnership for SongDa's power generation business.
• Tập đoàn Công nghiệp Than - Khoáng sản Việt Nam (TKV)minorStrategic or Co-development PartnerTKV is a major Vietnamese state-owned mining and minerals group. Listed as a partner/customer in SongDa's ecosystem, indicating project collaboration or service provision.
• Tập đoàn Dầu khí Quốc gia Việt Nam (PVN)minorStrategic or Co-development PartnerPetrovietnam is Vietnam's national oil and gas group. Listed as a partner/customer in SongDa's ecosystem, indicating project collaboration or service provision.

Scale indicators6 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• Larsen & Toubro (L&T): Large Indian EPC conglomerate with hydro and heavy civil infrastructure capabilities. Comparable in integrated EPC and infrastructure delivery model, though far more diversified geographically.
• Power Construction Corporation of China (PowerChina): Global hydro EPC leader with a portfolio of large dam projects worldwide. Directly comparable to SongDa in hydroelectric EPC and power generation, but with vastly greater geographic and capital scale.

Direct peers

• China Gezhouba Group: Major Chinese hydro EPC and power generation group; comparable to SongDa in dam construction and hydro asset ownership, with active Southeast Asia project involvement.
• Hidrochina: Chinese state-owned hydro engineering, consulting, and EPC group. Closely comparable to SongDa's hydro-focused EPC and design consulting profile, with international project reach.
• Licogi: Vietnamese state-owned construction company with hydro EPC and power generation activities. Closely comparable in EPC discipline and government-project orientation within Vietnam.
• Vinaconex: Vietnamese state-owned construction and infrastructure conglomerate with overlapping capabilities in civil, industrial, hydro, and transportation EPC — the closest domestic peer to SongDa in scale, SOE heritage, and business mix.

Regional players

• Petrovietnam Power (PV Power): Power generation arm of Vietnam's oil and gas SOE. Comparable as a state-affiliated power producer offtaking into the EVN grid, though focused on gas-fired rather than hydro generation.
• Trung Nam Group: Vietnamese private-sector power and infrastructure developer with hydro, solar, and grid projects. Comparable in hydro/solar generation mix and EPC delivery within the Vietnam market.

Emerging players

• Obayashi Corporation: Japanese construction major with hydro dam and tunnel expertise. Comparable in specialized heavy civil and underground construction methods, though operating on a global rather than domestic scale.

Others

• ANDRITZ AG: Global supplier of hydro turbines and electromechanical equipment; a SongDa partner (ANDRITZ HYDRO). Comparable as a hydro-ecosystem player though positioned as a supplier rather than EPC contractor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/watch?v=j4r2d30WUG0
• Facebookfacebook.com/tctsongda
• LinkedInlinkedin.com/company/song-da-holdings

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SongDa