Credit contract for the last PPP section of the North-South Expressway signed

February 17, 2022 | 20:13

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The investors of the Dien Chau-Bai Vot section of the Eastern Cluster of the North-South Expressway planned for 2016-2020, together with involved banks, signed a VND3.56 trillion ($154.8 million) credit contract on February 12, paving the way for the acceleration of the project.

Credit contract for the last PPP section of the North-South Expressway signed

Construction site of the Dien Chau-Bai Vot section

The event rendered Dien Chau-Bai Vot the last Public-Private Partnership (PPP) section of the project completing the signing of the credit contract.

Le Kim Thanh, head of the PPP Department under the Ministry of Transport (MoT), said that the section experienced many challenges in negotiations of the credit loan.

The sector is planned to be developed in 36 months, but now it has 27 months left. Meanwhile, many large works remain, including the Than Vu Tunnel and the Hung Duc Bridge.

The Dien Chau-Bai Vot section running through the central provinces of Nghe An and Ha Tinh kicked off construction last May. The 50-kilometre section is planned to have four lanes in its first phase and comprises a 1.1km-long tunnel and a 4-kilometre long bridge.

The project costs over VND11.15 trillion ($485 million). Of the total, over $263.5 million comes from state capital, while the rest is secured by investors.

The contract was earlier signed by the MoT and a consortium of investors, namely Hoa Hiep Co. Ltd, CIENCO4 Group JSC, Pink Mount Investment Co., Ltd, Truong Son Construction Corporation, VINA2 Investment and Construction JSC, and Phuc Thanh Hung JSC.

By Bich Thuy

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