PTSC Quang Ngai: Active and Creative to Get through Difficulties

10:24:21 PM | 31/7/2012

During 14 years of construction and development, every member of PTSC Quang Ngai Joint Stock Company has devoted all efforts to overcome difficulties and challenges and successfully complete all objectives and tasks assigned by PTSC Corporation and PetroVietnam Group, thus playing a significant part in the cause of national industrialisation and modernisation.
Thus far, PTSC Quang Ngai has become a leading brand with extensive expertise and broad reputation in port operations; port logistics (logistics, related services); tugboat services provided and FSO vessel services; fabrication, installation, designing and procurement of oil and gas projects. Apart from two oil tanks in Dung Quat oil refinery (US$45 million) and bio-ethanol tank (US$100 million) in central region, PTSC Quang Ngai also carried out several key projects across the country like Nghi Son oil refinery in Thanh Hoa province and Long Phu thermal power plant in Soc Trang province. With these impressive achievements, PTSC was named an outstanding enterprise of the province by Quang Ngai People’s Committee in two consecutive years (2010-2011) and decorated the Third Grade Labour Order by the Government.
PTSC Quang Ngai’s efforts to surmount hardships were vividly portrayed in 2011. Revenues totalled VND1,124.14 billion in the year, 1.27 percent higher than the full-year plan and 5.07 percent higher than that in 2010. Profit before tax was VND55.41 billion, 0.75 percent higher than the plan and 6.55 percent higher than in 2010. Gross margin was 4.93 percent in the year. The company paid VND106.20 billion to the State Budget, equalling 279.47 percent of the 2011 plan and 191.45 percent of the 2010 value. Supply base, port logistics services, and FSO vessel services are stably expanding their market share in Quang Ngai. Especially in 2011, PTSC Quang Ngai constructed and operated three tugboats: PTSC Thang Long - Hanoi Millennium 02 (3500 HP), PTSC Thang Long - Hanoi Millennium 03 (4750 HP) and PTSC 04 (2200 HP). This is a very potential service that PTSC Quang Ngai has been focusing on its business development strategy.
PTSC Quang Ngai is also very active in social security and community development. On May 11, 2012, it held a ceremony to hand over VND3.2 billion-Trung Hoa Van An Kindergarten to Nghia Thuong commune, Tu Nghia district, Quang Ngai province. Shortly thereafter, the firm cooperated with the Central Disaster Assistance Fund to kickstart the construction on the VND4.6 billion disaster-shelter An Hai Primary School on Ly Son Island district, Quang Ngai province.
The company has completed 99.07 percent and is test-running Dung Quat bio-ethanol project. The project will be handed over to the investors in the very near term. PTSC Quang Ngai completed and transferred two pumps and two tanks to investor BSR in September 2011, five months ahead of schedule. This very impressive result was highly appreciated by its partner - JGC, the investor, consultants and Vietnam National Oil and Gas Group (PetroVietnam).
In addition, PTSC Quang Ngai has embarked on its bids in Long Phu thermal power plant in Soc Trang province and Quang Ngai tank and export port project for PV Oil Corp. Director Pham Van Hung said: "In the current context of fierce and intense competition, these results are very impressive, and illustrate the solidarity, dedication and efforts of all members of PTSC Quang Ngai."
He said, given general difficult economic conditions in 2012, PTSC Quang Ngai expected to achieve revenues of VND1,100 billion and profit before tax of VND50 billion, paid VND45 billion to the State Budget and increase income of employees to VND10.54 million a month. To achieve these objectives in the current hard time, the company will strive to maintain traditional businesses and develop new ones.
Kien Trung