VN seeks $40M for expressway site clearance
V I E T NA M’S Mi n i s t r y of Transport has proposed t he government a llocate 932 billion dong ($40 million) from contingency reser ves for t he My Thuan-Can Tho expressway project to ent ice busine s s e s t o i nv e s t i n t he project.
The sum is part of t he tota l investment for project of 5.4 trillion dong, but the ministr y has proposed disbu rsi ng it now to complete land clearance work to find an investor for t he project.
Potent i a l i nvestor s have been reluctant to get involved, la rgely due to t he L aw on Management and Use of Pub- lic Assets which took effect in Januar y t his year, which dictated t hat t hey must win a tender to collect toll fees on the Ho Chi Minh City-Trung Luong E x pressway to f und t he My T hu a n- C a n T ho expressway project.
Prev iously, FDI firm Thang L ong Ma na gement Boa rd under the Ministr y of Transport submitted a short list of investors to t he ministr y.
However, wit h t he change in legal documents, the select ion proc e s s f or proje c t ’s investors must be conducted again.
Eleven investors, including t hose f rom t he Republic of Kor e a a nd C h i n a , h a v e expressed interest.
Earlier in 2016, t hen Prime Minister Nguyen Ta n Dung approved the My Thuan-Can Tho Highway project in t he Mekong Delta being conducted under t he build-operatetransfer mode.
Accord i ng l y, tol l boot h s would be built on the Ho Chi Mi n h C i t y-Tr u n g L u o n g Expressway (from the cit y to Tien Giang prov ince) to fund t he project, and a lso on t he new highway once completed.
The minist r y sa id t he My Thuan-Can Tho Expressway, part of the Ho Chi Minh Cit y- Ca n Tho Ex pressway, is a n important route in the northsout h ex press way s y stem, facilitating transport between Ho Chi Minh Cit y a nd t he Mekong Delta.
The volume of vehicles on t his route will increase rapidly in the coming time, especia lly af ter t he construction of My T hua n 2 Br idge, i t said.
The 23.6km My Thuan-Can Tho Expressway will start at t he intersect ion of Nationa l Highway 80, and will end at t he Cha Va Intersect ion of National Highway 1A, both in the Mekong Delta province of Vinh Long.
Construction of the Trung Luong-My Thuan Expressway is underway.