The Government Office on August 30 issued Document No.6000/VPCP-CN on the Deputy Prime Minister Le Van Thanh’s direction about the approval for an investment plan for the Bien Hoa-Vung Tau Expressway project under a public-private partnership (PPP) format.
|Overview of the Bien Hoa-Vung Tau Expressway project |
Accordingly, Deputy Prime Minister Le Van Thanh asked the Ministry of Transport (MoT) to base on the road development plan 2021-2025 and, once approved by the prime minister, to check the details of the project and then report to the prime minister.
The first phase of the expressway project will run through the southern provinces of Dong Nai and Ba Ria-Vung Tau, with a total length of 53.7km, running in parallel to National Highway 51.
In the investment plan that the MoT submitted to the government, total capital amounts to about $782.6 million, of which $521.7 million will be poured into the first stage and nearly $260.9 million will be used for site clearance.
Under the build-to-operate (BOT) plan, the state will invest $260.9 million, while the remainder will come from investment attraction.
Minister of Transport Nguyen Van The said that the MoT will strive to complete the project by 2025 to connect the already built Long Thanh International Airport with the Cai Mep-Thi Vai port area in Ba Ria-Vung Tau.
Vietnam aims to develop additional 4,000km of expressways by 2030. Amid the state budget constraints, luring in domestic private and international investors is vital.