Tuesday,  Oct 23, 2018,12:17 (GMT+7) 0 0
Investor pulls out of Rach Mieu 2 Bridge project
Le Anh
Friday,  May 18, 2018,15:47 (GMT+7)

Investor pulls out of Rach Mieu 2 Bridge project

Le Anh

A view of Rach Mieu Bridge which faces frequent overload and congestion on national holidays - PHOTO: ANH QUAN

HCMC – HCMC Infrastructure Investment JSC (CII) has announced to withdraw from the Rach Mieu 2 Bridge project after working with the government of Ben Tre Province, according to the Ministry of Transport.

It is explained that the company has not yet mobilized enough capital to date and voiced concern over a big amount of money and a long period of capital recovery.

Besides, CII is focusing on funding Trung Luong-My Thuan Expressway project worth VND9,668 billion in total investment for phase one. The investor has reportedly poured a limited VND1,542 billion, or 16% of the total, into the project.

After CII’s refusal to continue the project, the province has asked the central Government for approval to finance the project for expanding and upgrading four sections of National Highway 60, then construct Rach Mieu 2 Bridge in the public-private partnership.

The Transport Ministry earlier came up with two suggestions for the bridge project. In the first option, a new 12-meter wide bridge is constructed next to the current Rach Mieu Bridge, while the other option is to build the new bridge 3.8 kilometers apart from the current one, with respective investments of VND2,768 billion and VND4,702 billion.

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