Latest News about north-south expressway
Vietnamese investors registering to attend the bid for eight component projects of the north-south expressway have complained that they have found it difficult to compete with foreign investors to win the bids.
A workshop on technological solutions for the North-South high-speed railway took place in Hanoi.
While Japanese contractors are absent, many Chinese enterprises have registered to attend the bids for eight component projects of the north-south rail expressway project.
The bidding for the North-South Expressway will be conducted publicly and transparently in order to select qualified contractors.
Experts say the north-south expressway project worth tens of billions of dollars raises big questions in the context of ‘every locality has one airport’ race.
The requirements on financial capability and experience that contractors must have for the north-south expressway project are out of reach of domestic enterprises.
Fifty-one investors have been selected in the preliminary bidding for seven public-private partnership (PPP) projects for the North-South Expressway.
Tenders for building three sections of the North-South Expressway project have attracted a total of 27 investors, including 18 firms from South Korea and China.
Few Vietnamese companies have participated in projects of VND4-5 trillion (US$172-US$215 million). This means there`s little chance for domestic investors.
The investors selected to develop the North-South Expressway will have to have successfully developed at least one similar project in an overseas market.
The Hanoi-HCM City high speed rail project will benefit the country’s economy, but there are several challenges to implementation of the mega project, including financing, attracting private sector interest and a weak business case.
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.
Tolls on eight sections being developed under the public-private partnership format for the North-South expressway project are likely to be collected for at least 24 years.
The representative of the Project Management Unit No 2 under MOT said many foreign investors from France, Japan and South Korea have expressed interest in the Highway 45-Nghi Son section of the north-south expressway project.
Only investors from China have shown willingness to implement the north-south high-speed railway, sparking concern among National Assembly’s deputies, according to MOT.