Foreign investors interested in North-South Expressway project
Many investors from the Republic of Korea, Japan and China are looking to join the North-South Expressway project, according to Deputy Minister of Planning and Investment Vu Dai Thang.
Twenty-five domestic firms have bought bidding documents for the project, which will focus on building road sections along the expressway in the east.
Representatives from the Department of Public Procurement stressed the need to select experienced investors, saying foreign investors should prove their success in similar projects in another country, without litigation and dispute, and ensure quality as well as progress.
The North-South Expressway has a total length of more than 2,100km, traversing 32 provinces and cities. The project is divided into three phases.
During 2017-2020, more than 650km of the road running through 13 provinces and cities will be built.
From 2021-2025, the sections of Bai Vot (Ha Tinh province)-Cam Lo (Quang Tri province) and Quang Ngai province-Nha Trang (Khanh Hoa province) will be constructed. Meanwhile, the section from La Son (Thua Thien-Hue province) to Tuy Loan (Da Nang city) will be upgraded from two lanes to four lanes.
The section from Can Tho city to Ca Mau city of southernmost Ca Mau province will be built and put into operation after 2025.
Total investment for the project during 2017-2020 is 118.7 trillion VND (nearly 5.1 billion USD), including 55 trillion VND (2.35 billion USD) from the Government and the remainder raised from investors through the public-private partnership model.