Following the signing of the contract with BIDV's Quang Tri branch, the bank will provide a VND906 billion ($43.1 million) loan, which is about 85 per cent of the total investments required for the section, in a 16-year term deal.— Photo baoquangtri

QUANG TRI (Biz Hub) — The Bank for Investment and Development (BIDV) has signed a contract with a build-operate-transfer (BOT) Quang Tri company for the expansion of a 15.54-kilometre section of the National Highway 1A.

Following the signing of the contract with BIDV's Quang Tri branch, the bank will provide a VND906 billion ($43.1 million) loan, which is about 85 per cent of the total investments required for the section, in a 16-year term deal.

As scheduled, the BOT Quang Tri company, which is a joint venture of Truong Thinh Group and Truong Son Engineering Corporation, will complete the section by the end of next year.

The section, which was designed with four lanes, 23-metres wide, will require a total investment of more than VND1.07 trillion ($48 million). Once completed, it is expected to ease traffic from Gio Linh district to Dong Ha city in the province.

National Highway 1A runs from the north to the south of the country, with an expansion of 672 kilometres added to its 1,887-kilometre length. — VNS