A seminar to promote investment in the North-South expressway project was organized by the Ministry of Transport on May 17, drawing interest from some 100 local firms and 50 international organizations and investors.
|The construction site of a section of the Ben Luc-Long Thanh expressway, part of the North-South expressway project. As many as 150 local and international organizations and investors are keen on the cross-country expressway project|
The foreign investors came from South Korea, Japan, China, Spain, Great Britain, France and Singapore, according to the ministry
At the seminar, which took place in Hanoi City, the local and international investors learned about the project and its processes and requirements for participation.
Local and foreign investors will have equal opportunity to register to invest if they meet requirements, in line with the prevailing regulations.
The bidding papers for international tenders held for eight parts of the cross-country expressway under the public–private partnership (PPP) format have been issued to domestic and foreign investors.
Enterprises will be put on the shortlist if they meet at least 60% of the requirements. Financial capacity, which is the most important requirement, is set to account for 60% of the requirements, while experience and proposed methods for executing the project will make up 30% and 10% of the total, respectively.
There are three criteria for assessing investors’ financial capacity: net asset value, equity value and ability to mobilize funds.
Specifically, investors’ net asset value and equity value must both be equal to 20%-30% of the investment required for the project.
If multiple firms form an alliance to get involved in the project, the alliance’s financial capacity will be the total capacity of the members.
The 654-kilometer North-South expressway project, which was divided into 11 subprojects, will be developed with a total investment of over VND118.7 trillion. Of the total, VND55 trillion will come from the State budget and over VND63.7 trillion from the private sector.
These 11 subprojects comprises of eight PPP components---Mai Son-National Highway 45, National Highway 45-Nghi Son, Nghi Son-Dien Chau, Dien Chau-Bai Vot, Nha Trang-Cam Lam, Cam Lam-Vinh Hao, Vinh Hao-Phan Thiet and Phan Thiet-Dau Giay---and three subprojects using State capital---Cao Bo-Mai Son, Cam Lo-La Son and My Thuan 2 Bridge. SGT