US$5.4 billion to be invested in 9 component projects of North - South expressway
Nine component projects of the North-South Expressway Phase 2 will be invested in the form of public-private partnership (PPP), with total investment of about 124,619 billion VND (US$5.4 billion) during the 2021-2025 period.
The Government’s draft report seeks approval from the National Assembly for further investment in 9/12 component projects for the North-South Expressway from 2021 to 2025.
According to the Government, the North-South expressway consists of 12 component projects with a total length of about 729 km and a total investment capital of 154,527 billion VND. Of which, about 73,495 billion VND comes from the state budget and about 81,032 billion VND from other sources.
However, the Government says that due to limited state resources, if all 12 projects are implemented, funding for other national highway projects will be affected. Therefore, the Government proposes completing 9 of 12 component projects with a length of 552 km during 2021-2025, including: Hau Giang - Ca Mau, Can Tho - Hau Giang, Van Phong - Nha Trang, Chi Thanh - Van Phong, Quy Nhon - Chi Thanh, Hoai Nhon - Quy Nhon, Quang Ngai - Hoai Nhon, Van Ninh - Cam Lo.
The three remaining component projects - Vung Ang - Bung, Bung - Van Ninh and Van Ninh - Cam Lo - site clearance and resettlement will be implemented in the period of 2021-2025, and construction will be conducted in 2026 - 2030.
All nine component projects will be invested in the form of PPP (build-operate-transfer contract), with total capital of 124,619 billion VND, including 61,628 billion VND ($2.67 billion) from the state budget and 62,991 billion VND ($2.7 billion) of private capital.
The North-South Expressway phase 2 has an average toll collection period of about 24.8 years. The three component projects of Quang Ngai - Hoai Nhon, Can Tho - Hau Giang, and Hau Giang - Ca Mau will have a toll collection period of 29-32 years.
According to the national road network planning by 2050, Vietnam will have more than 9,000 km of expressways. The country aims to complete construction of about 5,000 km by 2030.