HCMC – Lam Dong Province has asked the prime minister and some relevant ministries for VND2.5 trillion to develop the Bao Loc-Lien Khuong expressway under the public-private partnership format.
The 74-kilometer-long expressway will have four lanes and allow a maximum speed of 100 kilometers per hour, the local media reported.
The project will require a total of over VND19.5 trillion, with some VND7.76 trillion sourced from the State budget.
Of the total central budget for the project, VND4 trillion will come from the local budget for the construction of the project in the 2021-2025 period, but the capital from the provincial budget can be reduced after the Government offers financial support of VND2.5 trillion.
The remaining VND3.76 trillion set for compensation will be converted into land for the same land use purpose.
Besides, of the total investment, some VND11.7 trillion will be mobilized by the project’s investor.
The Central Highlands province pledged to start work on the Bao Loc-Lien Khuong expressway project after receiving financial support from the Government. The project is set to get off the ground in 2023 and be opened to traffic in 2026.
The Bao Loc-Lien Khuong expressway will start at the intersection with Nguyen Van Cu Street in Bao Loc City and end at the intersection with the Lien Khuong-Prenn expressway in Duc Trong District.