French Bank, BIDV Sign US$85Mln Deal to Build Phu My Bridge

Societe General, a French bank, and the Bank for Investment and Development of Vietnam (BIDV) have inked a VND1.436 trillion ($85 million) credit contract to construct the Phu My Bridge in Ho Chi Minh City, Vietnam’s largest economic hub, state media reported.

 

The VND1.8 trillion bridge, some 705-meter length and 27.5-m width, will be built under the Build-Operation-Transfer model within its 26-year operation duration, the Ho Chi Minh Technical Infrastructure Joint Stock Co said, adding that the remainder of the funding will be contributed by BOT contractors.

The Ho Chi Minh People Committee has pledged that all the heavy trucks transporting cargoes from ports along the Saigon River will be forced to run via the bridge out of the city.