PPP model to be adopted to fund new expressway

Tuesday, Jun 16, 2015 08:00

HCM CITY (VNS) — A 142.2 km stretch of the Phan Thiet – Nha Trang Expressway will be built under the public–private partnership (PPP) mode, according to the Cuu Long Corp. for Investment Development and Project Investment for Infrastructure (Cuu Long CIPM).

The project has been submitted by the latter to the Ministry of Transport for approval.

The expressway, to run from Phan Rang town in Ninh Thuan Province to National Highway No 1 A in Binh Thuan, will be 17 metres wide and have four lanes, allowing vehicles to travel at up to 80km per hour.

It will cost over VND17.8 trillion (US$818 million), including VND12.145 trillion (over $557 million) for the construction alone.

Cuu Long CIPM has proposed dividing the project into two sub-projects, one a VND14.767 trillion BOT (build – operate – transfer) work and the other a VND3.066 billion segment to be funded by official development assistance (ODA).

This stretch of the Phan Thiet – Nha Trang Expressway is scheduled to open to traffic in 2021.

It is part of a 235km Nha Trang – Phan Thiet Expressway that will run from Khanh Hoa Province's Dien Khanh District to the northern point of the Dau Giay – Phan Thiet Expressway on National Highway No 1A in Binh Thuan Province.

This section, which will have 97 bridges, is expected to cost VND46 trillion (over $2.1 billion).

It will be the North – South Expressway running from Ha Noi to the Mekong city of Can Tho. — VNS

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