- CEO
- Hung Quang Nguyen
- Sector
- Finance
- Industry
- Real estate development
- Address
- Vung Tau Vietnam
- IPO Date
- May 19, 2022
- Business
- Petroleum Industrial & Civil Construction Joint Stock Company (PVC-IC) is a Vietnam-based engineering, procurement, and construction (EPC) enterprise specializing in industrial construction, civil infrastructure, and building materials manufacturing. Tracing its operational roots to 1983 and formally incorporated in its consolidated corporate structure in December 2007, the company is headquartered in Vung Tau City, Ba Ria - Vung Tau Province, Vietnam, and operates as an affiliated construction member of PetroVietnam Construction Joint Stock Corporation (PETROCONs) within the Vietnam Oil and Gas Group (Petrovietnam) ecosystem.
The company operates across three core business segments: Construction and Installation, Building Materials Manufacturing, and Real Estate Development. Through its Construction and Installation division, PVC-IC delivers comprehensive engineering, fabrication, and erection services; specializing in onshore and offshore oil and gas facilities, petroleum processing installations, pipeline networks, marine wharves and port terminals, thermal and renewable power plants, industrial manufacturing complexes, public utility infrastructure, urban water supply and drainage systems, high-rise office towers, and multi-unit residential buildings. In its Building Materials Manufacturing segment, the company produces and distributes commercial ready-mix concrete; precast concrete structures; structural clay and cement bricks; quarry-mined stone aggregates; and specialized architectural assemblies, including aluminum-glass curtain walls, uPVC plastic profile doors, and industrial fire-rated doors. Through its Real Estate division, the company develops, manages, and invests in commercial properties, residential apartment towers, and industrial and urban zone technical infrastructure across southern Vietnam.
PVC-IC primarily serves state energy enterprises, multinational industrial developers, civil engineering contractors, and municipal authorities, focusing geographic operations predominantly within Ba Ria - Vung Tau Province and key industrial hubs across Vietnam.
In recent strategic and operational developments, PVC-IC has implemented comprehensive corporate and financial restructuring programs aimed at streamlining operations, resolving legacy debt burdens, and stabilizing working capital. Following consecutive fiscal deficits, the company transitioned its equity listing from the Ho Chi Minh Stock Exchange (HOSE) to the Unlisted Public Company Market (UPCoM) under the ticker PXI. To overcome persistent liquidity challenges and legacy real estate commitments, the company initiated formal engagements with corporate restructuring advisory partners to re-engineer its organizational framework, streamline asset holdings, and renegotiate liabilities with banking institutions and tax authorities. Operationally, PVC-IC is pivoting its core focus toward specialized technical subcontracts, structural fabrication, industrial maintenance, and renewable and energy infrastructure projects within Vietnam's expanding industrial and energy sectors.