HCMC – The Ministry of Transport has proposed taking out a loan of over VND5.777 trillion (US$253 million) from the World Bank (WB) to upgrade the three national highways of 53, 62, and 91B in the Mekong Delta.
The Transport Ministry sent the proposal to the ministries of Finance and Planning-Investment, reported Phap Luat newspaper.
According to the Transport Ministry, the road upgrades require over VND7.158 trillion, equivalent to over US$309 million. National Highway 53 needs some VND1.811 trillion in investment, National Highway 62 needs over VND2.19 trillion, and National Highway 91B requires over VND3.155 trillion.
The ministry suggested over VND5.777 be sourced from the WB loan, while the remaining VND1.381 trillion be backed by the country’s reciprocal capital.
The projects will be executed four years after the loan agreement is expected to take effect in the 2023-2026 period.
The ministry said the road upgrades would meet the rising transport demand, shorten the time needed to transport passengers and cargoes, and help contribute to socioeconomic growth in the delta.
Specifically, under the proposal, National Highway 53 will be widened to 11 meters and allow vehicles to travel at a maximum speed of 80 kilometers per hour. The project starts from Long Ho District of Vinh Long Province to Cang Long District of Tra Vinh Province.
For the National Highway 62 section passing through Long An Province, the ministry wants to widen it to 11 meters, with a speed limit of 80 kilometers per hour.
Besides, the ministry proposed upgrading the 91B route in two phases. Its asphalt surface will undergo reinforcement and the route will measure 11 meters wide with a speed limit of 80 kilometers per hour after the upgrade.