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Tuesday, June 18, 2024

PPP contract signed for last North-South expy section

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HCMC – The Ministry of Transport and a consortium of investors of the Cam Lam-Vinh Hao subproject of the North-South Expressway project on July 30 signed a contract for the subproject, which will be executed under the public-private-partnership (PPP) model.

This is the last PPP subproject of the expressway to have its contract signed, following the Dien Chau-Bai Vot and Nha Trang-Cam Lam subprojects, the local media reported.

The Cam Lam-Vinh Hao section will be 78.5 kilometers long, stretching from Khanh Hoa southward to Binh Thuan.

The subproject requires an estimated investment of over VND8.9 trillion, including nearly VND3.8 trillion sourced from the investor consortium and some VND4.2 trillion from the State budget.

The consortium of investors, including Deo Ca Group, Deo Ca Construction JSC and 194 Company, was chosen through a competitive bidding process.

In the initial phase, the section will have four lanes and a design speed of 80 kilometers per hour. The section will be expanded to six lanes later.

The section, once in place, will help improve the transport capacity, connect south-central economic centers and the key economic zone in the southeastern region and create a driving force for the socioeconomic development.

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