Deo Ca Investment Joint Stock Company (Vietnam)

DEO CA INVESTMENT JOINT STOCK COMPANY was originally established in 2010 by B.O.T HAI THACH INVESTMENT JOINT STOCK COMPANY and other shareholders. Since late 2019, the subject has become a subsidiary of DEO CA TRAFFIC INFRASTRUCTURE INVESTMENT JOINT STOCK COMPANY - a company in DEO CA GROUP, and shareholding percentage has been 70.36% according to financial statement of the parent company as at 31 Mar 2021.DEO CA INVESTMENT .,JSC is established to deploy the project "Road Tunnels throughout Deo Ca" with a stated investment capital of VND 21,612 billion, including Co Ma Tunnel, Deo Ca Tunnel, Co Mong Tunnel and expanded work of Hai Van Tunnel under PPP (Public - Private Partnership) form. Total length of tunnels is nearly 30 km (consisting of two parallel tunnels). The Co Ma Tunnel had a traffic opening ceremony in late Sep 2015. Deo Ca Tunnel has put into commercial operation since Sep 2018, Cu Mong Tunnel was finished construction in Jan 2019 and started collecting fees since Apr 2019 according to the Annual Report 2019 of the parent company. The expanded work of Hai Van Tunnel was completed construction in late Sep 2020 and has been launched since 11 Jan 2021; however, it had temporarily stopped operation after 20 days in order to wait the functional agencies to solve requirements of the investor (mainly relating to finance). It has run again and started collecting fees since 01 May 2021 according to mass media source.The projects' capital resources were mainly from loans (nearly VND 11 trillion at the end of 2020), having resulted in high pressure on loan interest expense payment. It is known that Vietinbank has been financing most infrastructure projects of DEO CA GROUP.