26.2 C
Ho Chi Minh City
Saturday, July 13, 2024

US$400 million sought for upgrading roads linking to Laos and China

The Saigon Times

Must read

HCMC – The Department for Roads of Vietnam has presented a project to upgrade and modernize national highways connecting with northern Laos and China, utilizing loans from the World Bank.

According to the plan, the renovation of three national roads linked to Laos and China, funded by World Bank loans, will last five years, from 2025 to 2029.

The upgrade will cover a 38-km section passing through Dien Bien Province and Tay Trang border in Dien Bien Province, and three sections of National Highway QL4H with a combined length of 94 kilometers.

A 52-km segment of National Highway QL217, stretching from National Highway QL1 to Ho Chi Minh Road, will also upgraded as part of the initiative.

The highway improvement project is estimated to require an investment of VND9,419 billion, equivalent to US$400 million. Out of this, over VND 7,500 billion, sourced from World Bank borrowings, will be allocated to cover construction, equipment and consultancy services.

The project includes reciprocal capital of VND1,900 billion, or US$81 million, designated for project management, site clearance, tax payments, and other fees and charges.

According to the Department for Roads of Vietnam, the project will contribute to enhancing connectivity, meeting the growing transportation demand, and reducing travel time between border checkpoints and seaports, ultimately lowering transportation costs, mitigating environmental pollution, and reducing traffic accidents.

Upon completion, the project is also expected to stimulate trade between Vietnam and northern Laos and China.

More articles


Please enter your comment!
Please enter your name here

Latest articles