Decision No. 48/2003/QD-BCN Regarding the establishment of Power Installation Company 3.1 (State-owned Subsidiary) under Power Installation Company 3 based on the merger of Mechanical and Electrical Construction Enterprise and Mechanical Construction Team.

Pursuant to …;

Regarding the establishment of Power Installation Corporation 3.1 (a state-owned subsidiary) under Power Installation Corporation 3 based on the merger of the Mechanical Construction and Electrical Construction Enterprise and the Mechanical Construction Team.

THE MINISTER OF INDUSTRY 

Pursuant to the Government Decree No. 74/CP dated November 1, 1995 on the functions, tasks, powers, and organizational structure of the Ministry of Industry;

Pursuant to Decision No. 862/QĐ-TTg dated September 30, 2002 of the Prime Minister approving the pilot model for the organization of the Parent Company-Subsidiary Company at Power Installation Corporation 3 and Decision No. 46/2002/QĐ-BCN dated October 22, 2002 of the Minister of Industry on restructuring Power Installation Corporation 3, an independent accounting member enterprise of Vietnam Industrial Construction Joint Stock Company into a state-owned parent company directly under the Ministry of Industry piloting the Parent Company-Subsidiary Company model;

Considering the proposal of the General Director of Power Installation Corporation 3 (Memorandum No. 137 TT/XLĐ3-TCLĐTT dated January 16, 2003);

At the suggestion of the Director of the Department of Organization and Cadres,

DECISION:

Article 1.

1. Establish Power Installation Corporation 3.1 (state-owned subsidiary) under Power Installation Corporation 3 (state-owned parent company) based on the merger of the Mechanical Construction and Electrical Construction Enterprise and the Mechanical Construction Team.

2. Power Installation Corporation 3.1 shall have the international trade name: Power Construction Company 3.1, abbreviated as: PCC3.1

3. The main office shall be located at No. 489 Nguyen Luong Bang Street, Hoa Khanh Ward, Lien Chieu District, Da Nang City.

4. Power Installation Corporation 3.1 shall be a legal entity under Vietnamese law from the date of registration for business, implementing an independent economic accounting system, using its own seal, opening accounts at banks; organizing and operating according to the Charter of the Company approved by the General Director of the parent company in accordance with the Charter of the parent company's organization and operation, the State Enterprise Law, and other relevant laws.

Article 2.

1. Business activities of the company:

- Installing power grid projects, transformer substations up to 500 kV, and power generation projects;

- Installing industrial and civil construction projects, transportation and water conservancy projects, telecommunications, cultural, sports, airport, and port projects;

- Producing electrical equipment and accessories;

- Exploiting and trading sand, gravel, pebbles, and other types of building materials;

- Cargo transportation services;

- Developing urban housing and infrastructure, industrial zones, export processing zones, high-tech zones, and new economic zones;

- Trading in import and export of electrical materials and equipment, building materials, transportation equipment, construction machinery;

- Other businesses suitable for the company's capacity and permitted by law.

2. The Charter Capital of the Company at the time of establishment:

11,117,745,115 VND

(Eleven billion, one hundred seventeen million, seven hundred forty-five thousand, one hundred fifteen dong only)

Article 3. This Decision takes effect 15 days after its publication in the Official Gazette. Any previous documents that conflict with this Decision are hereby abolished.

The Head of the Ministry’s Office, the Inspector General of the Ministry, Heads of Departments and Directors of Bureaus under the Ministry, the General Director of Power Installation Corporation 3, the Director of Power Installation Corporation 3.1, the Director of the Mechanical Construction and Electrical Construction Enterprise, and the Leader of the Mechanical Construction Team are responsible for implementing this Decision./.