(ĐN)- On February 16, Dong Nai branch of Bank for Investment and Development of Vietnam (BIDV) signed a credit agreement with Bien Hoa-Vung Tau Expressway Development J.S Company (BVEC) to provide a loan of VND1.6 trillion for the expansion project of the National Highway No 51.
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| BIDVs Dong Nai branch and BVEC signs a credit agreement for National Highway No 51 expansion project |
The BVEC has a total chartered capital of VND1,750 billion with shareholders including the Vietnam Industrial Zone and Urban Development and Investment Corporation (IDICO), Song Da Corporation and the BIDV. The company is assigned by the Prime Minister to carry out the project to expand National Highway No 51 and the Bien Hoa - Vung Tau Expressway.
The total investment for National Highway No.51 expansion project is put at nearly VND 2.1 trillion.
The project will be carried out in different phases. In the first phase, BIDV will provide a loan worth VND400 billion. Construction will be started in the second quarter of 2009 and be completed in two and a half years. The project will widen National Highway 51 to an average 32.9 meters with eight lanes.
Reported by X.P
