Vietnam approves My An-Cao Lanh Expressway project worth more than $2 billion

January 06, 2022 | 08:44

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The prime minister has signed Decision No.2203/QD-TTg in late December, authorising the investment strategy of the first phase of the My An-Cao Lanh highway, which would be financed by loans from the South Korean government.

Vietnam approves My An-Cao Lanh Expressway project worth more than $2 billion

Photo: baodautu.vn

The construction of a road linking the Mekong Delta's major cities is one of the primary objectives of the project, in which the Ministry of Transport (MoT) serves as a major stakeholder and investor. The project is set to secure national security in the Mekong Delta.

The project's particular purpose is to establish the My An-Cao Lanh expressway to successfully foster the Central Mekong Delta development by completing and linking the N2 route, the Ho Chi Minh road, and the North-South expressway.

The My An-Cao Lanh expressway's first phase will be designed as a four-lane restricted expressway, with a roadbed width of 17 metres and a speed limit of 80kmh, according to Decision No. 2203.

Roughly $2 billion is anticipated to be required for the whole conclusion of the project, with a loan from the Korea Development Economic Cooperation Fund making up around $158.80 million.

Official development capital is estimated to be around $476.5 million, which will be used to pay for construction, equipment, technical design, and supervision, among other costs.

The remainder is expected to be about $475.4 million. There are a variety of costs associated with domestic consulting, such as planning and developing an investment proposal, verifying the technical design, and other expenses.

There was an earlier proposal (Document No.12805/TTr-GTVT) from the MoT to approve a 26.16-mile expressway between My An and Cao Lanh, located in Dong Thap province, with the first point connecting the N2 line in My An town and the beginning of the Cao Lanh Bridge.

Five years after the grant agreement's effective date, the project will be implemented.

By Anh Minh - Lam Tien

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