30 C
Ho Chi Minh City
Thursday, July 25, 2024

Investment plan for Gia Nghia-Chon Thanh Expressway approved

The Saigon Times

Must read

HCMC – The National Assembly (NA) approved the investment plan for the Gia Nghia-Chon Thanh Expressway project this morning, June 28, with 467 out of 469 deputies present voting in favor.

This expressway is a component of the Western North-South Expressway project.

The 128-kilometer-long expressway project is divided into five components, with the first component being invested under the public-private partnership (PPP) model, specifically the build-operate-transfer (BOT) contract.

In its initial phase, the expressway will have four lanes. Around 2045, when traffic demand increases, an additional two lanes will be added to the route.

The total investment for the entire project is estimated at around VND25.5 trillion. Of this, VND10.5 trillion will come from the State budget, VND2.2 trillion from the local government budget, and VND12.8 trillion will be arranged by the investors.

The project requires approximately 1,111 hectares of land, including 12 hectares of rice cultivation land, 1,041 hectares of agricultural land, 12 hectares of residential land, and 46 hectares of productive forestry.

Regarding the project timeline, construction of the expressway is expected to start in 2024 and be completed by 2026, with the commencement of operations set for 2027.

Once completed, the expressway will reduce travel time between Dak Nong, Binh Phuoc, and HCMC. It will also improve connectivity from the province to the under-construction Long Thanh International Airport and the Cai Mep-Thi Vai Port in Ba Ria-Vung Tau.

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest articles