A HCM City company has asked the Transport Ministry to approve a VND30 trillion (US$1.37 billion) project to build a expressway that will connect HCM City with a southern border province. — Illustrative image/ Photo cienco6

HCM CITY (Biz Hub) — A HCM City company has asked the Transport Ministry to approve a VND30 trillion (US$1.37 billion) project to build a expressway that will connect HCM City with a southern border province.

The proposal was made by the Cuu Long Transport Infratructure Management Investment and Development in HCM City.

The proposed expressway would link the city's Thu Duc District with Moc Bai Border Gate in the southern Tay Ninh province that borders Cambodia. It will have 84.5 km in length and 15 metres wide for four lanes.

The project is expected to be developed under the Build-Operate-Transfer (BOT) form in the two phases.

About 55.5 km would be built in the first phase with cost estimated at VND14.46 trillion ($669.5 million). In the second phase, a combined 38 km of viaduct totally worth VND15.5 trillion ($718 million) will be constructed.

The project's investment capital is expected to be raised from sources such as official development assistance (ODA), the State Budget, and loans from Asian Development Bank.

The expressway would connect the Moc Bai Border Gate with the city's beltways 3 and 4, creating an uninterrupted traffic network linking the city with southern key economic regions. — VNS