HCMC – A proposal has been made to increase the cost by VND3.7 trillion for phase one of the Bien Hoa-Vung Tau Expressway, according to the Vietnam News Agency.
On behalf of the prime minister, Minister of Construction Tran Hong Minh signed a Government proposal seeking National Assembly approval to adjust the investment policy for phase one of the Bien Hoa-Vung Tau Expressway project.
According to the proposal, the total investment cost of the project would rise to around VND21.5 trillion.
Of the total, funding for the first component will increase from VND6.24 trillion to nearly VND6.7 trillion; the second from VND6.4 trillion to over VND7.6 trillion; and the third from VND5.19 trillion to more than VND7.2 trillion.
One of the main reasons for the cost overruns of the three components is higher compensation, support, and resettlement costs, which are now estimated at around VND9.8 trillion, over VND3.2 trillion higher than originally planned.
The construction cost is projected to rise by VND487 billion, from VND11.2 trillion to VND11.7 trillion.
The project will be funded by the state budget for 2021–2025, with the amount expected to increase by more than VND2.85 trillion to a total of VND17.1 trillion.
Phase one of the Bien Hoa-Vung Tau Expressway project will span about 53.7 kilometers, including 34.2 kilometers in Dong Nai Province and 19.5 kilometers in Ba Ria-Vung Tau Province.
It will have 4-6 lanes, with plans to expand to 6-8 lanes in the final phase.
The project is scheduled for basic completion in 2025 and full operation in 2026.
