BIDV to Finance VND1.6Tln for National Highway Expansion
The Bank for Investment and Development of Vietnam (BIDV) has committed to provide the Bien Hoa – Vung Tau Expressway Development JS Company with credits worth of VND1.6 trillion for the expansion of the National Highway No. 51.
An agreement to this effect was signed on February 16 in southern Dong Nai province.
Total investment for National Highway No 51 expansion project is estimated at nearly VND2.1 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 finished in two and a half years later.
The Bien Hoa-Vung Tau Expressway Development Joint Stock Company was established with shareholders including the Vietnam Industrial Zone and Urban Development and Investment Corporation (IDICO), Song Da Corporation and 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 Bien Hoa - Vung Tau Expressway project has a total investment of VND15.5 trillion and is currently under assessment by the Ministry of Transport. (People)
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