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Tuesday, November 29, 2022

Gov’t approves investment in Tan Phu-Bao Loc expy project

The Saigon Times

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HCMC – Deputy Prime Minister Le Van Thanh has approved a plan to develop the Tan Phu-Bao Loc expressway project under the public-private partnership format, the provincial government of Lam Dong announced yesterday, November 10.

The 66-kilometer-long expressway will link Tan Phu District in Dong Nai Province with Bao Loc City in neighboring Lam Dong Province, with the section passing through Lam Dong being 55 kilometers long, the local media reported.

The route will have six lanes, including two emergency ones, allowing a maximum speed of 80 kilometers per hour. The project is expected to be put into service in 2026.

Besides, the development of the expressway requires around 455 hectares of land, including some 81 hectares in Dong Nai and roughly 274 hectares in Lam Dong.

The total cost of the project is estimated at VND17.2 trillion. Of this, public capital will account for VND6.5 trillion, with VND2 trillion funded by the central budget and VND4.5 trillion from the local budget of Lam Dong. Capital contributed by investors will make up some VND1.605 trillion and more than VND9 trillion will be from bank loans.

The project, once completed, is expected to improve the synchronization of the regional infrastructure system and shorten the time needed for vehicles to travel between the Central Highlands provinces and the southern key economic zone as well as socioeconomic and industrial centers along the National Highway 20.

Further, the route is set to ease traffic congestion and accidents on National Highway 20.

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