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Thursday, June 20, 2024

Quy Nhon-Pleiku expressway proposed

The Saigon Times

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HCMC – Local governments have proposed building a four-lane expressway connecting the cities of Quy Nhon in Binh Dinh and Pleiku in Gia Lai.

Local media reports said that leaders of the two provinces have written to the Prime Minister proposing that the Quy Nhon-Pleiku expressway project be developed at an estimated cost of VND37.6 trillion funded by the State.

The proposed expressway would span 143 kilometers, with 57 kilometers in Binh Dinh and the remaining 86 kilometers in Gia Lai. The project preparation period is set from now until 2025, with construction aimed for completion before 2030.

In early 2023, the PM tasked the People’s Committee of Gia Lai Province with coordinating with the Ministry of Transport to explore plans for constructing the Quy Nhon-Pleiku Expressway, prioritizing investment through a public-private partnership (PPP) format.

Calculations show that under the PPP format, if the State provides a maximum of 50% of the total investment, the project would not be financially viable. To make the project financially viable and to recover the capital within about 25, 18, or 10 years, the State would need to contribute between 76% and 88% of the total investment.

Currently, Binh Dinh and Gia Lai are connected solely by the 243-kilometer-long National Highway 19, which is in poor condition.

Therefore, developing the Quy Nhon-Pleiku Expressway through public investment is seen as essential to support the socio-economic development of the two provinces, as well as neighboring provinces in the Central Highlands and the central coastal region.

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