HÀ NỘI — The Việt Nam Infrastructure Development and Finance Investment Joint Stock Company (VIDIFI) has become the latest enterprise to express interest in expanding the eastern section of the North–South Expressway under the public–private partnership (PPP) model.

In a proposal submitted to the Prime Minister and the Ministry of Construction, VIDIFI requested to be considered as the investor for the expansion of various segments of the expressway, with a particular focus on the northern region.

These include the Mai Sơn–National Highway 45, National Highway 45–Nghi Sơn, Nghi Sơn–Diễn Châu, Bãi Vọt–Hàm Nghi, Hàm Nghi–Vũng Áng and Vũng Áng–Bùng sections, with a combined length of around 300km and a projected investment of nearly VNĐ45.4 trillion, (US$1,700 million).

VIDIFI pledged to ensure timely implementation and construction quality, while proactively mobilising funding for the project without seeking direct support from the State budget.

The company’s leadership confirmed it has reached a cooperation agreement with the State Capital Investment Corporation (SCIC) to jointly establish an investment consortium. SCIC, which holds strong financial capacity, has been tasked by the Government to prioritise investment in strategic infrastructure sectors.

In addition to SCIC, VIDIFI is also negotiating with other competent investors to potentially join the consortium if awarded the project. With major shareholders including the Việt Nam Development Bank (VDB) and Vietcombank, VIDIFI enjoys favourable conditions for raising capital.

In particular, VDB – VIDIFI’s controlling shareholder – is a policy bank assigned by the Government to mobilise and re-lend official development assistance (ODA) funds for key infrastructure projects. Should VIDIFI be selected, VDB has pledged to arrange credit financing and provide optimal conditions for the project to proceed in line with regulations.

VIDIFI was established by founding shareholders VDB, Vietcombank and Vinaconex. It was previously appointed by the Prime Minister as the investor for the Hà Nội–Hải Phòng Expressway under a build-operate-transfer (BOT) contract. Completed and operational since 2015, this route is still regarded as one of the country’s highest-quality expressways.

Prior to VIDIFI’s proposal, Đèo Cả Group and Sơn Hải Group had also submitted formal requests to the Government and the Ministry of Construction, proposing to participate in the expressway expansion project, upgrading the current four-lane, 17-metre-wide design to a six-lane configuration as planned. — VNS