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Friday, July 26, 2024

Development of Tan Phu-Bao Loc expy project approved

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HCMC – Prime Minister Nguyen Xuan Phuc has agreed in principle that the Lam Dong Province government will be in charge of developing the Tan Phu-Bao Loc expressway project, which connects Lam Dong with the neighboring province of Dong Nai, during the 2021-2025 period under the public-private partnership format.

The Central Highlands province of Lam Dong was asked to mobilize capital to ensure that an appropriate amount of the province’s budget is invested in the project, reported Thanh Nien Online.

The ministries of Transport, Planning and Investment, Finance and the relevant agencies have to create optimal conditions and facilitate investment procedures for the project, PM Phuc said.

The Transport Ministry was told to work with Lam Dong’s government to comprehensively assess the impact of the construction of the project along with other build-operate-transfer projects to avoid possible disputes and ensure investment effectiveness. The ministry has to coordinate with other agencies to study the construction of the Dau Giay-Tan Phu and Bao Loc-Lien Khuong expressways.

PM Phuc asked the three ministries to give their feedback on the allocation of the State budget during the 2021-2025 period for the road project as proposed earlier by Lam Dong.

The provincial government of Lam Dong has to quickly conduct the project’s pre-feasibility study and report to the higher authorities by March for consideration and approval, select qualified investors and funding organizations for the project and execute the project in a lawful, transparent and efficient manner.

Earlier, in January last year, Lam Dong sought an approval from the Government leader to develop the 67-kilometer Tan Phu-Bao Loc expressway project with four lanes, as a component of the 200-kilometer-long Dau Giay-Lien Khuong expressway project, which is set to link the Central Highlands provinces and the southeastern provinces.

The Tan Phu-Bao Loc expressway will require some VND18.2 trillion in investment, with some VND9.7 trillion backed by the investor and an equal amount funded by the State budget.

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