ADB provides non-refundable aid to HCM City-Long Thanh-Dau Giay highway project

An additional $750,000 will be poured into the construction of the HCM City-Long Thanh-Dau Giay highway. Of the figure, the Asian Development Bank (ADB) provides $600,000 in non-refundable aid to the project.

An additional $750,000 will be poured into the construction of the HCM City-Long Thanh-Dau Giay highway. Of the figure, the Asian Development Bank (ADB) provides $600,000 in non-refundable aid to the project. Construction of the VND18,884 billion project is expected to start in the fourth quarter of 2007 and be completed by 2011.

Under planning, the HCM City-Long Thanh-Dau Giay highway will have a total length of 54.9km and meet international standards. It will lie in the southern key economic region and will help shorten around 20km from HCM City and Mekong Delta provinces to Vung Tau City. The highway will also help promote the construction of the Long Thanh International Airport and bring into full play of the capacity of the Thi Vai - Cai Mep deep water ports.

The HCM City-Long Thanh-Dau Giay highway project is invested by big names in Vietnam such as the Bank for Investment and Development of Vietnam (BIDV), the Vietnam Oil and Gas Corporation (PetroVietnam), the Vietnam Shipbuilding Industry Corporation (Vinashin), the Vietnam Post and Telecommunication Group (VNPT), the Song Da Corporation, the Vietnam Coal and Mining Group.

Reported by P.V