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Thursday, October 21, 2021

Disbursement of VND410 billion for Trung Luong-My Thuan Expressway project stalled

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CAN THO – Prime Minister Nguyen Xuan Phuc has urged the provincial government of Tien Giang to speed up capital disbursement for the Trung Luong-My Thuan Expressway project, for which VND410 billion of State capital has still not been disbursed.

The project requires a total investment of nearly VND12.7 trillion, including State capital of VND2.186 trillion, with the rest coming from the investor’s equity and bank loans.

A representative of BOT Trung Luong-My Thuan JSC, the developer of the project, told The Saigon Times that to date, nearly five months after the prime minister approved funding for the project, the company still does not know when the remaining VND410 billion in State capital will be disbursed.

The prime minister visited the project site in early March and asked the Tien Giang Province government to quickly disburse the capital for the project. However, the provincial government recently, for the second time, sent a letter to the relevant ministries and departments suggesting options for the use of capital from the State.

The Government Office has asked the ministries of Planning and Investment, Transport and Finance to comment on the province’s proposal. However, the exact date of disbursal has not been announced.

The four-lane Trung Luong-My Thuan Expressway will be some 51 kilometers long, with 4.5 kilometers of access roads, running through five outlying districts of the Mekong Delta province of Tien Giang. Together with the HCMC-Trung Luong and My Thuan-Can Tho expressways, it will enhance transport connectivity between HCMC and Mekong Delta provinces and cities and boost the region’s socioeconomic development.

By Trung Chanh

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