VietinBank Selected to Loan HCM City Expressway Project
The State Bank of Vietnam, the country’s central bank, has authorized Vietnam Industrial and Commercial Joint Stock Bank (VietinBank) to provide loans for the HCM City – Long Thanh – Dau Giay expressway project.
The project costs US$932.4 million, including US$410 million funded by the Asian Development Bank (ADB), the SBV said.
The Japan International Cooperation Agency (JICA) funds US$516.5 million for the project.
The project aims at building a 51-kilometer expressway from the junction of the Second Ring Road in District 9 in the center of Ho Chi Minh City to the junction with Highway No.1 at Dau Giay in Dong Nai Province.
The project which includes the construction of a 1,700-meter long bridge over the Dong Nai River will be completed in 2014. (The People, SBV)
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