VN seeks $40M for ex­press­way site clear­ance

The Phnom Penh Post - - BUSINESS -

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.

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