(ĐN)- The Viet Nam Road Administration on Thursday signed a Build-Operate-Transfer (BOT) contract with the Bien Hoa-Vung Tau Expressway Development J.S Company (BVEC) to expand National Highway 51.
(ĐN)- Under the witness of Deputy Minister of Transport Ngo Thinh Duc, Deputy Minister of Construction Bui Pham Khanh and Vice Chairman of Dong Nai provincial People’s Committee Tran Van Vinh, the Viet Nam Road Administration on Thursday signed a Build-Operate-Transfer (BOT) contract with the Bien Hoa-Vung Tau Expressway Development J.S Company (BVEC) to expand National Highway 51, a traffic artery of strategic significance to the southern key economic zone.
The 72.7-km highway runs from the T-junction at
The project involves paving the highway with concrete and asphalt, expanding 21 existing bridges and building 8 new bridges as well as overpasses in crowded residential areas. The construction work is expected to be completed by 2012 at a cost of about VND3.313 trillion (US$185.3 million, with 10% sourced from the investors and the rest from commercial loans.
The contractor will collect toll fees on the highway in 24 years to recoup its investment.
The Viet Nam Road Administration said the project would promote socio-economic development in the southern region and reduce traffic accidents.
Reported by M.T
