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Vietnam Petroleum Transport Joint Stock Co (Vipco – coded VIP) has lately announced to concentrate on port services and real estates in 2010, stated Nguyen Dao Thinh, Vipco's chair of management board in the meeting with investors held by International Royal Securities Co in March 10, 2010.

At present, Vipco has carried out large real estate projects in Hai Phong City such as 43 Quang Trung Building, 37 Phan Boi Chau Building and Anh Dung 7 urban area.

In details, the Anh Dung 7 urban area was the company's first real estate to be completed up to now. The company has already sold 40 percent of the total apartments for its current employees and the rest 60 percent will be considered to decide the sales time and at reasonable prices.

The apartment building at 43 Quang Trung St has flooring area of 600 square metres, including 17 storeys. Meanwhile, the 37 Phan Boi Chau building is a 25-storey apartment building with an area of 960 square metres. The investment capital of two projects was 160 billion dong and 240 billion dong respectively.

The company was investor for Hai Phong Port project, including Dinh Vu Port and Lach Huyen Port with the total investment capital of about 3 trillion dong.

In Q1 of 2010, Vipco estimated to gain after tax profit of 5 billion dong. The company targeted to gain total after tax profit of 70 billion dong for the whole year.

Source: http://www.intellasia.net/news/articles/business/111289027.shtml