VNECO1 Electricity Construction

What VNECO1 Electricity Construction does

VNECO1 Electricity Construction (Công ty Cổ phần Xây dựng điện VNECO 1) is a Vietnamese joint-stock company headquartered in Da Nang that operates as a specialized electrical infrastructure contractor. Its core activities are the construction of high-voltage transmission lines (110kV and 500kV classes) and transformer stations (110kV and 220kV), general contracting for electricity projects, electrical equipment supply, industrial production related to power systems, and equity investment in electricity generation and transmission assets. The company is publicly listed on the Hanoi Stock Exchange under ticker VE1 and maintains a formal shareholder governance structure with annual general meetings.

The company's named executed and pipeline projects — Dai Loc–Thanh My 110kV, Danang–Ha Tinh 500kV, Long Thanh–Hyosung 110kV, Ta Trut 110kV, and Ma Lam 110kV — demonstrate a credentialed footprint in Vietnam's national grid buildout. Its go-to-market is enterprise field sales into EVN (Vietnam Electricity), government entities, and large industrial customers, with a single named anchor customer (EVN) in the electric power vertical. The company is pursuing a strategic pivot via a 2018 cooperation agreement with Zhejiang Huayun International of China, targeting submarine cable, large-span line, clean energy, and smart grid segments in Vietnam.

The revenue model combines one-time construction contracts, hardware (equipment) sales, and professional services including equity investment in power assets. Pricing is not publicly disclosed. The company operates from a single Da Nang headquarters with a stated core headcount of 1–10 employees — a figure that likely undercounts project-deployed labor typical of Vietnamese contractors. No revenue figures, headcount trends, or backlog data are publicly disclosed in the available sources, limiting financial visibility.

Name

VNECO1 Electricity Construction

Legal name

Công ty Cổ phần Xây dựng điện VNECO 1

Website

http://www.vneco1.com.vn

Company type

Private

Founded year

2003

Operating status

Operating

Headcount range

1–10 employees

Short description

VNECO1 is a Vietnamese publicly-listed electrical infrastructure contractor (HNX: VE1), headquartered in Da Nang, specializing in 110kV–500kV transmission line and transformer station construction, equipment supply, and electricity investment primarily for EVN and government clients.

Ownership category

akta.pro rank

Product category

Electrical Infrastructure Construction Services

NAICS

Power and Communication Line and Related Structures Construction (237130), Electrical Contractors and Other Wiring Installation Contractors (23821)

SIC

Water, Sewer, Pipeline, Comm & Power Line Construction (1623), Electrical Work (1731)

akta.pro primary industry

Overhead Transmission Line EPC (HV/EHV) (EUAEABAA)

akta.pro secondary industries

Transmission line EPC & construction (overhead) (EUADAKAA), Power Plant Electrical Systems EPC (Switchyard, Transformers, Protection & Controls) (EUAEAAAM), Transmission Interconnection & Line Works (Gen-Tie Lines, Overhead/Underground Lines) (EUAMAFAF)

Keywords

• Electrical infrastructure construction
• Transmission line construction
• Transformer station construction
• Power grid contracting
• Electrical equipment supply

Headquarters

HQ city

Da Nang

HQ country

Vietnam

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Electrical Construction Contracting: Revenue generated from being a general contractor for electricity infrastructure construction projects including transmission lines and transformer stations
2. Equipment Supply: Supply of electrical equipment for power infrastructure projects
3. Investment in Electricity: Investment in electricity generation and transmission projects

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

VNECO1 Electricity Construction is a Vietnamese joint-stock company that builds electrical power infrastructure, including high-voltage transmission lines (110kV and 500kV) and transformer stations (110kV and 220kV), as a general contractor for Vietnam's power sector. The company also supplies electrical equipment for transmission and distribution projects, invests in electricity generation and transmission assets, and provides industrial production services related to power systems. It primarily serves EVN (Vietnam Electricity) and other government entities through end-to-end contracting covering design, procurement, construction, and equipment supply.

Product overview

VNECO1 Electricity Construction is a Vietnamese joint-stock company providing comprehensive electrical infrastructure services. The company operates as both a general contractor and equipment supplier for electrical projects, specializing in the construction of high-voltage transmission lines (110kV and 500kV), transformer stations, and electrical distribution infrastructure. The product portfolio includes electrical transmission line construction, transformer station construction, general contracting services, equipment supply, electricity investment, and industrial production services. The company serves Vietnam's power sector by executing projects such as the Dai Loc – Thanh My 110kV transmission line, Danang – Ha Tinh 500kV transmission line, Long Thanh – Hyosung 110kV line, Ta Trut 110kV transformer station, and Ma Lam 110kV projects.

Differentiator

Problem solved

Functional benefit

Products and services

• Electrical Transmission Line Construction Construction services for electrical transmission lines and distribution infrastructure, including high-voltage lines at 110kV and 500kV such as Dai Loc – Thanh My DZ, Danang – Ha Tinh 500kV, Long Thanh – Hyosung DZ, and Ma Lam projects, for government utilities and large industrial customers.
• Transformer Station Construction
• Electrical General Contracting Services
• Electrical Equipment Supply
• Electricity Investment
• Industrial Production

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• Zhejiang Huayun International (浙江华云电力国际工程有限公司)coreStrategic or Co-development Partner · 6 March 2018VNECO1 and Zhejiang Huayun International held cooperation discussions in Danang in March 2018. The Chinese partner has strengths in submarine cable engineering, large-span line engineering, clean energy construction, and smart grid development. VNECO1 brings local construction experience and project development capabilities in Vietnam's electricity sector. Both parties expressed strong interest in joint development of Vietnam's electricity market and reached initial consensus on cooperation priorities.

Scale indicators1 record

Recent moves5 records

Expansion highlights4 records

Direct peers

• Power Construction Joint Stock Company 1 (PC1): Vietnamese EPC contractor specializing in high-voltage transmission lines and transformer stations for EVN, operating at 110kV–500kV — the closest direct competitor to VNECO1 in the same domestic market segment.
• Song Da Corporation: Major Vietnamese state-owned construction and infrastructure EPC group with significant electrical and hydropower transmission construction exposure, competing for the same EVN tenders as VNECO1.
• LICOGI (LICOMEN – Infrastructure Construction & Engineering JSC): Vietnamese infrastructure and power-construction contractor active in transmission and substation projects, comparable in scale and customer mix to VNECO1.
• VNECO (Vietnam Electricity Construction JSC): Larger Vietnam-based electrical construction group operating across transmission, substations, and power infrastructure — the namesake larger peer in the same VNECO family/state-linked orbit.

Broad incumbents

• TBEA Co., Ltd. Large Chinese manufacturer and EPC contractor of transformers, transmission lines and power infrastructure — a broader incumbent exporting capability into Vietnam and competing with domestic contractors on larger tenders.
• China Energy Engineering Group (CEEC / Energy China): One of the largest global power EPC groups; an emerging competitor in Vietnam's transmission market through Chinese-funded projects, with full 110kV–500kV and above capability.

Others

• Zhejiang Huayun International Engineering Co. VNECO1's stated strategic partner; a Chinese EPC with submarine cable, large-span line, and smart-grid capabilities — comparable as an adjacent/thematic peer rather than direct domestic competitor.

Regional players

• Northern Power Construction JSC (NPP): Vietnamese contractor focused on northern-region transmission and substation projects — comparable business model and customer (EVN/NPC) with geographic complementarity to VNECO1's central/southern focus.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/vneco-1-electricity-construction-joint-stock-company

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

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 VNECO1 Electricity Construction