Vietnam's Groups to Build First Highway Meeting Int'l Standards

Several big corporations of Vietnam will join hands to set up a company to build Vietnam’s first highway meeting international standards, with total investment capital of VND28,774 billion (nearly US$1.8 billion).

 

The Cat Lai - Long Thanh - Dau Giay highway project was announced by the Bank for Investment and Development of Vietnam (BIDV) on April 5.

 

The first phase of the project will be built with a four lane road-bed 25.5m wide, capitalized at VND9,890 billion (US$618.125 million). In the second phase, the highway will be built in three sections with investment of VND18,884 billion (over $1.18 billion).

 

The construction will kick off in the fourth quarter of this year, once approved by the Government. The first phase of the project is scheduled to be completed in 2011, and the second phase in 2019.

 

The project will be carried out in the BOT (Build-Operate-Transfer) mode by big names in Vietnam such as the Vietnam Oil and Gas Corporation (PetroVietnam), Bitexco, Idico Urban and Industrial Zone Investment and Development Corporation, the Vietnam Shipbuilding Industry Corporation (Vinashin), the Vietnam Post and Telecommunication Group (VNPT), the Song Da Corporation, the Vietnam Coal and Mining Group, the Ha Long Investment and Production Company and BIDV. (Vietnamnet)