Thanh Dat Development Investment

What Thanh Dat Development Investment does

Thanh Dat Development Investment JSC (HNX: DTD) is a Ha Nam province-based, vertically integrated infrastructure developer founded in 2001 and listed on the Hanoi Stock Exchange in October 2017 with VND 200 billion charter capital. The company operates five interconnected business lines: (i) general construction contracting for civil, transportation, irrigation, and industrial projects; (ii) industrial zone management through its 65%-owned subsidiary CTCP ĐTPT Hạ tầng KCN Đồng Văn III, which administers the 300 ha (expandable to 800 ha) Dong Van III supporting industrial park; (iii) inland waterway port operations at Yen Lenh Bac on the Red River; (iv) real estate and hospitality via Dong Van Hotel (3-star++, 81 rooms) and the VND 793.4B administrative/commercial zone at Dong Van III; and (v) utilities and materials including Liem Tuyen clean water plant (4,500 m³/day), a 90–120 m³/h concrete batching plant, and sand mining at Red River mines B.4.1/B.4.2 (combined 3.15 million m³ reserves through 2028).

Revenue mechanics are mixed: construction revenue is project-based and bid-driven (notable contracts include Bach Mai and Viet Duc Hospital Branch II infrastructure via a 65/35 JV with Vinaconex 25, and the BT Hoa Mac road PPP with South Hanoi Housing); industrial zone and water revenue is recurring lease/subscription; port revenue is transaction-fee per cargo ton; hospitality and concrete are transactional. The go-to-market is sales-led and relationship-driven, with government tenders for hospitals, schools, and roads on one channel, direct FDI/manufacturer leasing for industrial zone land and ICD services on a second channel, and direct B2B for port and utilities. Key customers include Bach Mai Hospital Branch II (VND 152.9B Thanh Dat share), Viet Duc Hospital Branch II (VND 145.8B Thanh Dat share), Hoa Sen Group Ha Nam factory (VND 37.9B), and Hanoi Industrial University Campus 3. Recent milestones include the January 2024 launch of Yen Lenh Bac Port and a July 2026 CEO transition to Tran Duc Dung. The company was awarded the Labor Medal (Third Class) by the President of Vietnam in 2016.

Name

Thanh Dat Development Investment

Legal name

Công ty Cổ phần Đầu tư Phát triển Thành Đạt

Website

https://thanhdathanam.vn

Company type

Public

Founded year

2001

Operating status

Operating

Short description

Thanh Dat Development Investment JSC (HNX: DTD) is a Ha Nam province-based infrastructure developer operating across construction contracting, the 300 ha Dong Van III industrial zone, Yen Lenh Bac inland waterway port, utilities (water, concrete, sand mining), and hospitality, serving government agencies, FDI manufacturers, and logistics customers in Northern Vietnam.

Ownership category

akta.pro rank

Headquarters

HQ city

Hanam

HQ country

South Korea

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Construction and Installation (Xây lắp): General contractor for civil, transportation, irrigation, and industrial construction projects. Revenue is project-based, one-time per contract. Projects include hospitals, schools, factories, and road infrastructure.
2. Industrial Zone Management and ICD: Development, management, and leasing of industrial zone infrastructure and inland container depots (ICD). Revenue from land/warehouse lease to tenant companies.
3. Inland Waterway Port Operations: Operation of Yen Lenh Bac inland waterway port on the Red River (waterway corridor No. 3), handling cargo with capacity target of 2.68 million tons/year by 2030.
4. Real Estate and Hospitality: Hotel operations (Dong Van Hotel), serviced apartments, and commercial center management.
5. Clean Water Supply: Operation of Liem Tuyen clean water factory with capacity 4,500 m3/day. Revenue from water sales to ~2,160 households and institutional customers (hospitals, urban areas).
6. Construction Materials (Concrete): Concrete batching plant producing fresh concrete for in-house construction projects and external customers.
7. Sand/ Mineral Extraction: Sand mining at two Red River alluvial mines (B.4.1 and B.4.2) with combined reserves of 3.15 million m3, producing at 278,600 m3/year.

Go-to-market motion1 record

Distribution channels5 records

Marketing channels3 records

Core offering

Thanh Dat Development Investment JSC is a diversified construction and infrastructure group operating across civil/industrial construction, industrial zone development, inland waterway port operations, real estate/hospitality, and utilities (clean water, concrete, sand mining). It acts as general contractor for government and private projects, develops and leases the 300-hectare KCN Dong Van III supporting industrial zone, operates the Yen Lenh Bac inland port on the Red River, and runs the Liem Tuyen clean water plant, concrete batching plant, and Dong Van Hotel. The company is listed on the Hanoi Stock Exchange under ticker DTD and is headquartered in Ha Nam province, Vietnam.

Product overview

Thanh Dat Development Investment JSC operates a diversified business portfolio spanning infrastructure development, industrial zone management, construction services, real estate, and utilities. The company functions as a parent holding structure with controlling interests in specialized subsidiaries: CTCP ĐTPT Hạ Tầng KCN Đồng Văn III (65% ownership) managing the 300ha Dong Van III Supporting Industrial Zone; CTCP Tân Cảng-Đồng Văn Hà Nam operating ICD/logistics services; and Công ty ĐTPT&TM Thành Đạt (40% ownership) managing bus stations and retail fuel. Core operational products include the Yen Lenh Bac inland port (468.4B VND, 296,575m2), Liem Tuyen clean water factory (4,500m3/day capacity), concrete batching plant (90-120 m³/h), and sand mining operations. Construction services encompass hospital infrastructure (Bach Mai, Viet Duc), universities, schools, and roads. The company also operates the Dong Van Hotel (3-star++, 81 rooms) and manages the Phu Ly bus station. The portfolio operates as interconnected business units where industrial zone development attracts construction demand, supporting services (port, utilities, concrete, water) enable project execution, and real estate/hospitality serves the industrial workforce.

Differentiator

Problem solved

Functional benefit

Products and services

• Yen Lenh Bac Inland Waterway Port Inland waterway cargo port located on the Red River (waterway corridor No. 3) providing handling services for freight operators and manufacturers, with target capacity of 2.68 million tons/year by 2030 and design for 1,000-ton vessels and 84-TEU container barges.
• KCN Dong Van III Supporting Industrial Zone A 300-hectare (expandable to 800 ha) government-approved supporting industrial park in Duy Tien, Ha Nam, leasing land and factory infrastructure to Japanese and domestic manufacturing tenants, specializing in mechanical engineering, electronics, IT, supporting industries, and new materials.
• Liem Tuyen Clean Water Factory Clean water production facility with 4,500 m³/day-night capacity supplying treated water meeting national standards to ~2,160 households plus Bach Mai and Viet Duc hospital branches II and the APEC new urban area.
• Dong Van Hotel and Serviced Apartments An 8-floor, 3-star++ rated hotel with commercial center, 36 short-stay rooms and 45 long-term serviced apartments located at the Dong Van Industrial Park junction in Duy Tien, Ha Nam, serving foreign experts, FDI enterprise staff, and domestic business travelers.
• Concrete Batching Plant Independent concrete production facility with 3 silos, capacity of 90–120 m³/hour, supported by 2 pump trucks and 15 tank trucks, supplying fresh concrete to Thanh Dat construction projects and external customers in Thanh Liem district, Ha Nam.
• Sand Mining Operations (Mines B.4.1 and B.4.2) Sand mining at two Red River alluvial mines in Duy Tien, Ha Nam with combined reserves of 3.15 million m³ and annual production capacity of 278,600 m³/year (Mine B.4.1: 180,000 m³/year; Mine B.4.2: 98,600 m³/year), operating under government mining licenses valid until 2028.
• General Construction Contracting Services Civil, transport, irrigation, and industrial construction contracting services delivered to government agencies, state hospitals, and private enterprises, including hospital infrastructure (Bach Mai and Viet Duc Branch II hospitals), universities (Hanoi Industrial University CS3), schools, and roads such as the BT Hoa Mac PPP project.
• Dong Van III Administrative and Commercial Accommodation Zone Administrative and commercial accommodation project within Dong Van III Industrial Zone spanning 33,711.5 m² with 900-person converted population, total investment VND 793.4 billion, operated until September 20, 2069.

Quantifiable outcome

• Yen Lenh Bac Port targets 2.68 million tons/year cargo capacity by 2030
• +2 more outcomes

Named customers6 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered core and minor.

• Saigon Newport Corporation (TCT Tân Cảng Sài Gòn)coreStrategic or Co-development Partner · 22 July 2017Thanh Dat partnered with Saigon Newport Corporation (via TCHN joint venture) to operate Tan Cang — Dong Van Ha Nam port and ICD facility at KCN Dong Van III. TCHN is a subsidiary of Saigon Newport, Vietnam's largest port operator, providing integrated logistics services including warehousing, customs clearance, and multimodal transport.
• CTCP ĐTPT Hạ tầng KCN Đồng Văn III (subsidiary, 65% owned)coreStrategic or Co-development Partner · 25 April 2017Thanh Dat holds 65% of this subsidiary which develops and manages KCN Dong Van III — a 300-ha (expandable to 800 ha) supporting industrial park. The subsidiary has charter capital of VND 303B. KCN Dong Van III is one of two government-approved supporting industrial parks in Northern Vietnam.
• Vinaconex 25coreStrategic or Co-development Partner · 1 August 2016Joint venture for hospital infrastructure construction in Ha Nam. Thanh Dat (65%) + Vinaconex 25 (35%) partnership won two major hospital infrastructure packages: Bach Mai Hospital Branch II (VND 228.9B total, Thanh Dat VND 152.9B) and Viet Duc Hospital Branch II (VND 221.4B total, Thanh Dat VND 145.8B). Scope: design, construction, and infrastructure equipment supply. Project started August 2016.
• South Hanoi Housing and Urban Development Corporation (Tổng công ty đầu tư phát triển nhà và đô thị Nam Hà Nội)coreStrategic or Co-development PartnerJoint venture for BT Hoa Mac road construction project — a Build-Transfer PPP project connecting Hoa Mac junction to DH05 road (2,560.41m). Total investment VND 145.2B. The project completes Duy Tien's transport infrastructure network and enables subsequent housing development projects.
• CTCP Đầu tư Phát triển và Thương Mại Thành Đạt (Thanh Dat Investment Development and Trading JSC)minorOthersAssociate company (sở hữu 40%) managing Phu Ly provincial bus station and adjacent hotel/service complex opposite Viet Duc Hospital Branch II. Also operates gasoline retail. Charter capital: VND 65B. Address: Phu Ly Bus Station, Liem Chinh ward, Phu Ly City, Ha Nam.

Scale indicators13 records

Recent moves7 records

Expansion highlights4 records

Direct peers

• Hoa Binh Construction Group JSC: HOSE-listed general contractor executing civil, industrial, and infrastructure projects across Vietnam. Directly comparable as a mid-to-large construction contractor competing for similar government, healthcare, and industrial infrastructure contracts.
• Fecon JSC: HOSE-listed specialized contractor for foundations, underground works, and infrastructure. Comparable as a Vietnamese construction contractor competing for industrial and infrastructure projects, though more specialized in geotechnical works than Thanh Dat's generalist model.
• Coteccons Construction JSC: Listed on HOSE, one of Vietnam's largest general contractors for civil, industrial, and commercial construction. Comparable because it competes directly for large-scale construction contracts in Northern Vietnam and has a similar diversified project portfolio.
• Kinh Bac City Development Holding Corporation: HOSE-listed industrial zone and urban developer in Bac Ninh province. Comparable because it operates supporting industrial zones for FDI tenants, executes construction, and runs integrated urban/industrial infrastructure similar to Thanh Dat's Dong Van III platform.
• Licogi 16 JSC: HNX-listed general construction contractor executing civil, industrial, and infrastructure projects. Comparable as a mid-sized Vietnamese construction company with similar project-based revenue model and government contract exposure.
• Vinaconex Corporation: Vietnam's largest state-owned construction and infrastructure group. Directly comparable because Vinaconex 25 (Vinaconex's subsidiary) is Thanh Dat's JV partner on Bach Mai and Viet Duc hospital projects, and Vinaconex operates across contracting, real estate, and infrastructure—mirroring Thanh Dat's diversified model.
• IDICO Corporation: Vietnamese state-owned industrial zone developer and infrastructure operator. Comparable because it develops industrial parks, executes construction, and operates infrastructure across multiple provinces—overlapping with Thanh Dat's industrial zone and construction business.
• Becamex IDC Corporation: Vietnam's largest industrial zone developer and operator, listed on HOSE. Directly comparable because it similarly develops industrial zones for FDI tenants, executes construction, and runs integrated infrastructure—operating on a much larger scale in Binh Duong.
• Sonadezi Corporation: HOSE-listed industrial zone developer and operator in Dong Nai province. Comparable because it develops and manages industrial parks, provides utilities, and executes construction for industrial tenants—mirroring Thanh Dat's KCN Dong Van III model.

Regional players

• Saigon Newport Corporation: Vietnam's largest port operator, parent of the TCHN joint venture that operates Tan Cang–Dong Van Ha Nam ICD with Thanh Dat. Comparable as an infrastructure partner/ecosystem player in Vietnam's port and logistics sector, though operating at national scale rather than in a single province.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/thanhdathotelhanam

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries1 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 Thanh Dat Development Investment