Many investors from the Republic of Korea, Japan and China are looking to join the North-South Expressway project, according to Deputy Minister of Planning and Investment Vu Dai Thang.
Many foreign investors are looking to join the North-South Expressway project (Source: nld.com.vn)
Twenty-five domestic firms have bought bidding documents for the project, whichwill focus on building road sections along the expressway in the east.
Representatives from the Department ofPublic Procurement stressed the need to select experienced investors,saying foreign investors should prove their success in similar projects inanother country, without litigation and dispute, and ensure quality as well asprogress.
The North-South Expressway has a total length of morethan 2,100km, traversing 32 provinces and cities. The project is divided intothree phases.
During 2017-2020, more than 650km of the roadrunning through 13 provinces and cities will be built.
From 2021-2025, the sections of Bai Vot (Ha Tinhprovince)-Cam Lo (Quang Tri province) and Quang Ngai province-Nha Trang (KhanhHoa province) will be constructed. Meanwhile, the section from La Son (ThuaThien-Hue province) to Tuy Loan (Da Nang city) will be upgraded from two lanesto four lanes.
The section from Can Tho city to Ca Mau city of southernmostCa Mau province will be built and put into operation after 2025.
Total investment for the project during2017-2020 is 118.7 trillion VND (nearly 5.1 billion USD), including 55 trillionVND (2.35 billion USD) from the Government and the remainder raised frominvestors through the public-private partnership model.–VNA
The Ministry of Transport (MOT) has issued documents for international bidding to find investors for 5 out of 8 component projects of the North-South Expressway.
The Eastern North-South expressway project includes 11 sub-projects with total length of 654km running through 13 provinces, of which three will be financed by state budget and eight under the PPP and BOT financing.
In case contractors are selected without arising situations, construction of the North-South expressway invested under the public-private partnership (PPP) may start in April 2020, VnEconomy reported.