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Monday, July 22, 2024

Over VND8 trillion sought for Hoa Lac-Hoa Binh expy expansion

By Lan Nhi

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HANOI – The expansion of the Hoa Lac-Hoa Binh Expressway, which runs through Hoa Binh Province and Hanoi, has been proposed to be executed under the public-private partnership (PPP) format, with a total investment of VND8.168 trillion, according to the provincial government of Hoa Binh.

The authority of Hoa Binh has written to its counterpart in Hanoi to collect the latter’s feedback on the expansion of the route using the State budget.

With a total length of over 23 kilometers, the road section running through Hanoi will be around 6.3 kilometers long and the one in Hoa Binh will be 16.6 kilometers long.

The two-lane route after expansion will have six lanes, with land along the two sides of the road to be used for an interregional railway project in the coming years.

Of the total investment, Hoa Binh is set to implement the expansion project under the PPP format, with the percentage of the State budget in the project not exceeding 50% of the total figure, at some VND3.8 trillion. The project’s payback period will be 24 years.

To serve the construction of the project, Hoa Binh requested Hanoi to adjust the zoning plans of some routes linked to the project and to a rail route to ensure an adequate transportation network.

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