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Sunday, June 23, 2024

VND50,000 billion proposed for two expy projects

The Saigon Times

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HCMC – The Gia Nghia-Chon Thanh Expressway project will cost some VND29,986 billion, whereas the investment of the Nam Dinh-Thai Binh Expressway project is over VND18,000 billion.

The Gia Nghia-Chon Thanh Expressway project will run from the Central Highlands to southern Vietnam, linking Gia Nghia District in Dak Nong Province to Chon Thanh District in Binh Phuoc Province.

In the first phase, local authorities recommended expanding the road from four to six lanes, with two for emergency stops.

The adjustment increased the cost of the project by VND4,000 billion. This is in line with the Government’s recent instruction to maximize investment efficiency.

Of the total VND29,986-billion expenditure, the state budget contributes VND9,900 billion.

The Nam Dinh-Thai Binh Expressway project has a total length of 60.9 kilometers, connecting the two provinces of the same name in northern Vietnam. The road is part of a larger expressway project between Ninh Binh Province and Haiphong City.

Like Gia Nghia-Chon Thanh, the road will have six lanes, including two for emergency stops. It costs some VND18,081 billion.

As Geleximco Group, the project’s investor, lowered the return on investment from 13.37% to 11.77%, the total investment decreased by VND2,800 billion.

The state budget will make up 49.5% of the costs.

The two expressway projects are expected to strengthen regional connectivity and promote local socioeconomic development. Both will be developed under a public-private partnership format.

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