Construction Joint Stock Company 47 (HoSE: C47)

What Construction Joint Stock Company 47 (HoSE: C47) does

Construction Joint Stock Company 47 (HoSE: C47) is a Vietnamese public construction contractor founded in 1975 and headquartered in Quy Nhon, Binh Dinh, with additional offices in Hanoi, Ho Chi Minh City, and Vientiane, Laos. The company executes large-scale hydroelectric, hydraulic/irrigation, and civil/industrial construction projects under EPC frameworks, with differentiated technical capabilities in RCC dam construction and TBM tunneling. Its active project portfolio spans the 124 MW Nam Neun 1 and Nam Phak hydropower projects in Laos, the Tri An and Hoa Binh hydropower expansion programs in Vietnam, the Long Thanh Airport program, the Hoa Phat Dung Quat 2 steel complex, and the Becamex Binh Dinh industrial zone.

The business model is project-based EPC contracting: revenue is generated from construction contracts awarded through competitive tenders and government procurement, with a customer base skewed toward the Government of Vietnam, state-owned utilities, and large industrial developers such as Hoa Phat and Becamex. Foreign capital partnerships — including PowerChina Guiyang on the Nam Neun 1 electromechanical scope, LHSE in Laos, INTRACO, and Vu Phong Energy Group — extend execution capacity and cross-border reach. The company is ranked in the VNR500 Top 500 (2025) and received a 50th Anniversary commendation in 2025; foreign ownership room was raised to 49% in Q1 2026, indicating a strategic opening to international equity capital as the Lao and domestic expansion projects ramp.

Name

Construction Joint Stock Company 47 (HoSE: C47)

Legal name

Công ty Cổ phần Xây dựng 47

Website

https://xaydung47.vn

Company type

Public

Founded year

1975

Operating status

Operating

Headcount range

11–50 employees

Short description

Construction Joint Stock Company 47 (HoSE: C47) is a Vietnamese public EPC contractor founded in 1975, specializing in hydroelectric, hydraulic/irrigation, and civil/industrial construction with RCC dam and TBM tunneling capabilities, serving government, state-owned utilities, and large industrial clients across Vietnam and Laos.

Ownership category

akta.pro rank

Product category

Heavy Civil Construction Services (Hydroelectric and Hydraulic)

NAICS

Heavy and Civil Engineering Construction (237)

SIC

Water, Sewer, Pipeline, Comm & Power Line Construction (1623), Heavy Construction Other Than Bldg Const - Contractors (1600)

akta.pro primary industry

Commercial General Contracting (New Build) (IMAFAAAA)

Keywords

• Hydroelectric construction
• Hydraulic engineering
• Dam construction
• Irrigation infrastructure
• Epc contracting

Headquarters

HQ city

Quy Nhon

HQ country

Vietnam

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Construction Services: Primary revenue from construction contracts for hydroelectric power plants, hydraulic/irrigation works, and civil/industrial construction. Revenue generated through competitive bidding on public and private infrastructure projects.
2. EPC Contracts: Engineering, Procurement, and Construction contracts, particularly for international hydroelectric projects such as Nam Neun 1 in Laos

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Construction Joint Stock Company 47 (C47) is a specialized contractor that designs and builds hydroelectric power plants, dams, reservoirs, weirs, spillways, and irrigation infrastructure using RCC dam technology and TBM tunneling. The company also executes civil and industrial building construction and provides EPC project delivery from engineering through procurement and commissioning for government and enterprise clients in Vietnam and Laos.

Product overview

C47 operates as a construction company offering a portfolio of specialized services rather than a unified software product. The core offerings include hydraulic/irrigation works construction (dams, reservoirs, weirs), hydroelectric power plant construction (including TBM tunnel technology), and civil/industrial construction. These services are supported by equipment and technology divisions. The company also provides investment services in construction and real estate sectors.

Differentiator

Problem solved

Functional benefit

Products and services

• Hydraulic/Irrigation Works Construction

Quantifiable outcome

• Successful completion of multiple large-scale hydroelectric projects including Nam Neun 1 (124 MW in Laos)
• +1 more outcomes

Named customers5 records

Segments3 records

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

Four partnerships are on record, tiered core and minor.

• PowerChina GuiyangcoreTechnology or Integration · 25 June 2026Signed contract for electromechanical equipment supply for Nam Neun 1 Hydropower Project. PowerChina Guiyang serves as the equipment supplier for the 124 MW hydroelectric project in Laos.
• LHSE (Lao Holding State Enterprise)coreStrategic or Co-development Partner · 11 February 2025Strategic cooperation agreement signed in February 2025 to enhance collaboration in the energy sector, with MOU formalizing partnership framework for hydropower development.
• Vũ Phong Energy GroupcoreStrategic or Co-development Partner · 12 December 2024Multi-party initiative partners for the 'Green Journey - Digital Knowledge' (Hành Trình Xanh - Tri Thức Số) project, a CSR initiative bringing digital knowledge and environmental values to highland communities. Also developed the company website and digital platforms.
• INTRACOminorStrategic or Co-development Partner · 26 November 2021Trilateral partnership for providing sanitary drinking water stations and greenhouse gas emission reduction programs, with C47 and Vũ Phong Energy Group.

Scale indicators3 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Hoa Binh Construction Group: HoSE-listed Vietnamese construction group with civil, industrial, and commercial building exposure. Comparable as a listed mid-cap Vietnamese contractor competing for similar public infrastructure and private industrial projects.
• Vinaconex: Large Vietnamese construction and infrastructure conglomerate listed on HoSE/UPCoM with diversified civil, industrial, and real estate development activities. Comparable as a publicly listed Vietnamese general contractor pursuing state infrastructure tenders, though its portfolio is far broader than C47's hydropower focus.
• China Gezhouba Group: Major Chinese dam and hydropower EPC contractor executing large projects throughout Asia and Africa. Comparable as a global-scale hydroelectric peer C47 would compete against for international tenders.
• Power Construction Corporation of China (PowerChina): Global hydroelectric EPC incumbent with the scale, equipment manufacturing arm, and financing capacity to underwrite turnkey dam projects across Asia and Africa. Comparable as the upper bound of the competitive set C47 faces internationally, and is C47's actual equipment supplier on Nam Neun 1.
• Sinohydro: Chinese state-owned hydropower and infrastructure EPC contractor with extensive Southeast Asian and Mekong project history. Comparable to C47 in hydropower core focus but operating at materially larger scale.

Regional players

• Phuc Hung Holdings Construction JSC: HoSE-listed Vietnamese civil and industrial construction contractor. Comparable as a smaller-scale publicly listed Vietnamese contractor competing for state and industrial zone infrastructure tenders in overlapping geographies.

Direct peers

• Song Da Corporation: Vietnam's flagship hydroelectric and hydraulic construction conglomerate with a long track record of large dam and hydropower EPC projects domestically and across Southeast Asia. Directly comparable to C47 in core service line, customer base (Vietnamese state hydropower owners), and geographic footprint.
• Cienco 4 (CIENCO4): Vietnamese state-linked heavy civil contractor specializing in transport infrastructure, bridges, and hydraulic works. Comparable to C47 in heavy civil execution capabilities and reliance on Vietnamese public-sector contracts.
• Licogi (Song Da 10 / Tổng Công ty Licogi): Vietnamese construction group historically linked to the Song Da hydropower ecosystem, active in hydraulic and civil works. Closely comparable in service mix and target market to C47's hydroelectric/hydraulic portfolio.

Emerging players

• Tractebel (Engie): International engineering consultancy with a leading hydropower and dams practice. Comparable as a competing service provider for owner's-engineer and EPC engineering scope on the same hydropower projects C47 targets.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/construction-47

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 Construction Joint Stock Company 47 (HoSE: C47)