Domestic investors will be allowed to participate in constructing the 57.8-km Ben Luc- Long Thanh expressway project, according to the Viet Nam Expressway Investment and Development Corporation (VEC).
 |
|
A road crossing southern Long An Province’s Ben Luc District is under construction. The Ben Luc-Long Thanh expressway has drawn the participation of domestic investors. |
Domestic investors will be allowed to participate in constructing the 57.8-km Ben Luc- Long Thanh expressway project, according to the Viet Nam Expressway Investment and Development Corporation (VEC).
VEC has received loan commitments of up to US$1.27 billion for the construction of the $1.6 billion - project from the Asian Development Bank (ADB) and JICA, Dau Tu (Vietnam Investment Review) reported.
In May, VEC and ADB signed a loan agreement worth $636 million for the project.
A loan agreement worth $634.8 million from JICA will be signed in September.
The loan from ADB will be used to build the projects west and east sections, and the loan from JICA will be used to build the projects middle section. The cost of land clearance and relocation of affected households and other works, which is worth $336.9 million, will be taken from the State budget.
The Ben Luc – Long Thanh expressway will depart from the connecting point between HCM City – Trung Luong expressway and the HCM City Ring Road No 3 and end at the connection point with Bien Hoa – Vung Tau expressway in Dong Nai Provinces Long Thanh District.
The expressway, which allows a speed of 120km per hour, will have eight lanes and run through Ben Luc and Can Giuoc districts in Long An Province, Binh Chanh, Nha Be and Can Gio districts in HCM City, and Nhon Trach and Long Thanh districts in Dong Nai Province.
Tran Xuan Sanh, chairman of VECs Board Members Council, said bidding procedures to select contractors for the project would be held at the end of this year and construction of the project would begin early next year.
(Source: VNS)
