According to information from the National Bidding Network System, on June 8, Mr. Tran Quang Thanh, Director of Road Management Zone II, signed a decision on terminating the contract for the work part of the second joint venture member, Thang Loi Group Joint Stock Company.
The terminated package is Package No. 3: Construction of sections Km314+190 - Km319+700, Km339+650 - Km346+400 belonging to the project of repairing damage to roadbed, road surface, sidewalks at sections Km314+190 - Km316+830, Km317+000 - Km319+700, Km321+800 - Km323+950, Km325+000 - Km325+600, Km328+480 - Km329+100, Km329+300 - Km330+800, Km331+500 - Km333+000, Km334+880 - Km336+300, Km339+650 - Km340+420, Km341+000 - Km341+900, Km344+000 - Km345+300, Km345+970 - Km346+400; and at the same time repairing negative taluy landslides at Km317+415 (left line) on the Ho Chi Minh road (Western branch), Hue city.
The reason for terminating the contract implementation mentioned is that Thang Loi Group Joint Stock Company has a document requesting the termination of the entire part of work undertaken in Contract No. 43/2026/HD-XD because it is no longer capable of continuing to perform in the context of high fuel and material prices.
Road Management Zone II said that after reviewing the dossiers and opinions of the parties in the minutes of the meeting on May 29, 2026 and comparing the contract regulations, the contractor's failure to continue to perform the assigned work has seriously affected the progress and efficiency of the bidding package and is not subject to contract price adjustment according to regulations.
According to the decision, the sanctioning measure applied is to confiscate the entire contract performance security value of all joint venture members as prescribed in point b, clause 22, Article 140 of Decree No. 214/2025/ND-CP dated August 4, 2025 of the Government.
Road Management Zone II also decided to separate the work part of Thang Loi Group into a separate bidding package to organize contractor selection according to regulations.
For the work part undertaken by Thua Thien Hue Road Management and Construction Joint Stock Company, the first joint venture member, the unit continues to implement the signed contract according to regulations.
Previously, on February 24, Mr. Nguyen Duc Dung, Deputy Director of Road Management Zone II, signed a decision approving the contractor selection results for this package.
According to the approval decision, the bidding package has E-TBMT IB2500552753, named Package No. 3: Construction of sections Km314+190 - Km319+700, Km339+650 - Km346+400.
The investor is Road Management Zone II. The form of contractor selection is domestic open bidding through the network, implemented in a one-stage, one-slot dossier method. The type of contract applied is fixed unit price contract.
The winning bidding consortium includes Thua Thien Hue Road Management and Construction Joint Stock Company and Thang Loi Group Joint Stock Company. The approved winning bid price is 48,128,004,000 VND.
The implementation time of the bidding package is 180 days. The contract implementation time is calculated from the date the contract takes effect until the parties complete all obligations under the signed contract.
Previously, information to Lao Dong Newspaper at the end of April, the Vietnam Road Administration said that according to the review, if material prices are updated at the beginning of April, the total cost of maintenance packages may increase from 3,294 billion VND to 4,240 billion VND, equivalent to an increase of 28.7%.
Due to the specific nature of these projects mainly related to repairing asphalt concrete road surfaces, they are directly affected by gasoline and asphalt prices. Notably, maintenance packages currently mainly apply fixed unit price contracts. In the context of sharply increasing input costs, if construction continues, contractors are at risk of suffering great losses. Therefore, there has been a situation where some contractors have delayed implementation, leading to the risk of delayed progress, affecting traffic safety and project safety, and at the same time affecting the capital disbursement plan for 2026.
Thang Loi Group has a legal representative, Mr. Ngo Ngoc Hieu, General Director. Business address at Group 1, Tran Hung Dao street, Y Yen commune, Ninh Binh province.
