AsemconnectVietnam - PetroVietnam Chemical and Services Corporation - JSC (PVChem, code PVC - HNX) has just announced the decision on the establishment of PVChem Industrial Technical Services Co., Ltd.

PVChem Industrial Engineering Services has a charter capital of VND60 billion. The new company's main business is repair of other equipment, namely repair and maintenance of machinery and equipment, oil and gas works, Refinery and Petrochemical Plants, Plants producing electricity, nitrogen, and gas; basic chemical production; manufacturing metal structures…
In 2023, this company sets a target of VND190 billion in revenue and VND6.8 billion in profit after tax. By 2025, PVChem Industrial Engineering Services expects charter capital to increase to VND140 billion, revenue and profit after tax to reach VND359 billion and VND14.36 billion, respectively.
PVChem said, establishing a subsidiary is necessary to implement PVChem's strategy to develop into a professional supplier inside and outside the oil and gas industry, focusing on areas such as: industrial engineering services, supply maintenance services for industrial works, providing services related to the environment.
Simultaneously, it is to improve the business initiative of the enterprise, creating conditions for the unit to be autonomous in participating in domestic and foreign bidding; favorable for the process of raising capital, attracting future investment of PVChem…
The subsidiary is expected to become a reputable and professional unit in the field of providing maintenance and repair services for industrial projects (priority is given to oil and gas projects in the later stages), industry products and services, environmental treatment services inside and outside the oil and gas industry.
At the same time, expanding the field of providing labor outsourcing services, gradually dominating the market; improving the dynamism of enterprises, creating a premise for research to expand the scale, develop and export industrial services to foreign countries….
N.Nga
Source: VITIC/Tinnhanhchungkhoan