Vinavico Group
Vinavico Group is a Vietnamese industrial conglomerate and heavy civil construction contractor specializing in underground and infrastructure works.
Last updated August 31, 2026
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Overview
Vinavico Group, also known as Underground Works Construction Joint Stock Company or VINAVICO, is a Vietnamese industrial conglomerate established in May 2003. Its principal offices are in Hanoi, and its business is centered on heavy civil engineering and infrastructure construction. The group is associated particularly with underground works, while also undertaking projects involving buildings, industrial facilities, transportation infrastructure, irrigation systems, hydropower facilities, dams, tunnels, roads, mines and urban developments. The company was created under the name Underground Works Construction JSC - Vinavico. Over time, it developed a wider operating footprint within Vietnam, including a Highland Branch and offices or operations in Lao Cai Province, Nghe An Province and Ho Chi Minh City. This geographic presence reflects the location of many of the infrastructure and resource-related projects served by the group, including work in mountainous and hydropower-producing areas. Vinavico's role is primarily that of a contractor and infrastructure investor. Its construction activities serve public-sector clients and cover technically demanding projects such as tunnels, dams, hydropower works, mines and roads. The group has also invested in hydropower and urban development projects in Vietnam, extending its activities beyond contract construction into project participation and development. The group operates through direct and indirect subsidiaries. Entities identified as part of the wider Vinavico structure include Vinavico IDI, Vinavico CNC, Vinavico Infortech, Vinavico Media, Vinavico Incom and Vinavico New Materials. Cavico Vietnam is described as a wholly owned subsidiary that conducts activities through a number of additional subsidiaries. The breadth of these entities indicates a diversified group structure spanning construction-related activities, infrastructure support, technology or information services, media, investment and materials, although the available reference material does not provide detailed descriptions of each subsidiary's current operations. Vinavico's shares were listed under the symbol CTN on the Hanoi Securities Trading Center. The available reference material does not establish the company's current trading status, ownership structure, executive leadership or present operating condition. Accordingly, those details require verification against current Vietnamese corporate, securities and company records.
History
Vinavico Group was established in May 2003 as Underground Works Construction JSC - Vinavico. From its origin, the company was organized around construction activities, particularly underground works, and subsequently developed into a broader industrial and infrastructure group operating in Vietnam. The company's core business is heavy civil construction. Its activities encompass buildings, industrial facilities, transport infrastructure, irrigation and hydropower projects, with underground construction identified as its specialist area. The project types associated with the company include tunnels, dams, hydropower facilities, roads and mines, as well as urban buildings. These activities place Vinavico within Vietnam's infrastructure and public-works contracting sector, where projects often require specialized engineering capabilities and work in difficult terrain. Following its establishment, Vinavico expanded its presence beyond its Hanoi base. The group is described as having a Highland Branch and offices or branches in Lao Cai Province, Nghe An Province and Ho Chi Minh City. Its regional footprint corresponds with its involvement in infrastructure, hydropower and resource-related construction across Vietnam. Vinavico also moved beyond direct contracting into investment activities. The company has been described as investing in hydropower and urban development projects in Vietnam. It operates through direct and indirect subsidiaries and serves public-sector clients. The group structure includes Vinavico IDI, Vinavico CNC, Vinavico Infortech, Vinavico Media, Vinavico Incom and Vinavico New Materials. Cavico Vietnam is identified as a wholly owned subsidiary operating through several subsidiaries of its own. The company became a publicly traded Vietnamese enterprise under the stock symbol CTN on the Hanoi Securities Trading Center. The available historical reference does not provide detailed information about the listing date, subsequent corporate transactions, financial performance or current listing status. It likewise does not identify founders, successive executives or ownership changes. The group's current status should therefore be confirmed using contemporary Vietnamese corporate and securities sources rather than inferred from its historical Wikipedia description.
- 2003
Company founded
[1]Vinavico was established in May 2003 under the name Underground Works Construction JSC - Vinavico.
Expansion into a wider group structure
[1]The company expanded its activities through branches, regional offices and direct or indirect subsidiaries covering construction, infrastructure and related business areas.
Public listing under CTN
[1]Vinavico shares were listed on the Hanoi Securities Trading Center under the symbol CTN.
Products and positioning
A Vietnamese heavy civil engineering and industrial group positioned around technically complex infrastructure projects, with particular emphasis on underground construction, hydropower and related public-sector works.
Construction services
Underground construction
Underground construction is the group's stated specialist field. The work includes technically demanding civil engineering such as tunnels and other subsurface infrastructure. The available reference material does not identify individual projects, methods, contract values or current project activity.
Infrastructure construction
Hydropower and dam construction
Vinavico undertakes construction associated with hydropower facilities and dams and has also been described as investing in hydropower projects in Vietnam. These activities form part of its broader infrastructure and public-works portfolio, particularly in regions where major water and energy projects are developed.
Infrastructure construction
Transport and road infrastructure
The group is associated with roads and transport infrastructure construction. Its portfolio is described at sector level rather than through named projects, and the available source does not specify whether particular road contracts remain active.
Building and industrial construction
Industrial, urban and building construction
Vinavico's construction scope includes buildings, industrial facilities and urban development. Urban development is also identified as an investment area, indicating that the group has operated across both contracted construction and broader development-related activities.
Civil engineering
Irrigation and mining-related works
The group is described as working on irrigation infrastructure and mines in addition to its better-known underground and hydropower activities. The sources do not provide detailed information on the scale, geographic distribution or current status of these operations.
Sources1 sources
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