Vietnam Firm to Build US$501M Tunnel in Central Region October
Deo Ca Investment JS Company will start construction of a tunnel which is estimated to cost VND9.5 trillion (US$501 million) in Vietnam’s central region on October 10.
The Ca Pass Tunnel will run through Phu Yen and Khanh Hoa province, the newspaper said, adding that the project will be carried out under the forms of building-operate-transfer (BOT) and building-transfer (BT).
Vehicles are expected to take only fifteen minutes, instead of one hour, to travel the Ca Pass once the construction is completed in 2014.
Earlier, the Vietnamese firm signed memorandum of understandings (MoUs) with French Vinci Construction Grands Projects, Egis, Apave company and Crédit Agricole and Société Générale banks for the project.
Under the MoUs, consultant and project management company Egis will carry out studies relating to the project, inspection specialist Apave will monitor and control project quality and Crédit Agricole and Société Générale banks will finance the project. (Pioneer)
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