2:14:33 PM | 1/3/2006
Vietnam plans to spend about VND23 trillion (US$1.45 billion) to build an expressway connecting Hanoi with the northern port city of Haiphong under the Build-Operate-Transfer (BOT) mode, State media said.
Of the total investment, 50 per cent will come from government bonds and the remainder from project investors.
The Hanoi-Haiphong expressway project will be carried out in two phases, with the first costing VND9,529 billion (US$603 million). The first phase is scheduled for completion in 2009 or 2010.
The 6-lane route is designed to be 102.5 km in length and 35 meters in width to allow vehicles to travel at the speed of 120 km per hour. Two emergency lanes will also be built on the route.
The Transport Engineering Design and Consultancy Corp. (TEDI) is completing a feasibility study for the project.
The project is part of the country’s plan to build about 6,000km of expressways by 2025. About 261km of expressways designed for high-speed travel will be built each year until 2025, at a total estimated cost of US$22.8 billion, according to the Ministry of Transport. .
In the 2005-2025 period, the country will also build expressways connecting Lang Son-Bac, Giang-Bac Ninh, Ninh Binh-Haiphong-Quang Ninh, Thanh Hoa-Vinh, Danang-Quang Ngai, Danang-Ha Nha, Long Thanh-Dau Giay, Dau Giay-Dalat, Ho Chi Minh City-Moc Bai, and Ho Chi Minh City-Trung Luong-Can Tho.
Capital for the expressways will come from foreign sources, local bank loans, bonds and land-use rights auctions. Ownership forms like the BOT (Build-Operate-Transfer) or BOO (Build-Operate-Own) are expected to attract foreign investors.
Vietnam Economic Times
Vietnamese
