S. Korea to Invest US$150Mln in Lang-Hoa Lac Highway Expansion
Five groups of South Korea plan to invest US$150 million in Lang-Hoa Lac expressway expansion project under the BOT (Build-Operate-Transfer) form, VietnamNet reported.
Hoa Binh provincial authorities recently made the announcement, adding that foreign companies and local government signed a memorandum of understanding on the credit package.
However, information about the five South Korean investors has not been made available.
The expanded Lang-Hoa Lac highway, proceeding from Hoa Lac T-junction to Hoa Binh City, is estimated to cost VND5,400 billion ($337.5 million).
The whole Lang-Hoa Lac expressway, 30 km long, 140 m wide, is designed to be the most modern of its kind in Vietnam with two separated traffic ranges.
According to the World Bank’s Infrastructure Coordinator, Alan Coulthart, Vietnam will require $23.4 billion to upgrade urban infrastructure between now and 2010. (VietnamNet)
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