PPP contract signed for Dien Chau-Bai Vot Expressway
The signing ceremony for the Dien Chau-Bai Vot expressway (Photo: VGP)
NDO - The Ministry of Transport has signed a contract with a consortium of five companies to build the Dien Chau-Bai Vot section of the north-south expressway under a public-private partnership arrangement (PPP).
The 50-kilometre expressway will run from Nghe An Province to Ha Tinh Province, featuring 4 lanes in its first phase and allowing a maximum speed of 80 kilometres per hour.
As part of the expressway, there will be the 1,100-metre long Than Vu Tunnel and the 4-kilometre long Hung Duc Bridge.
The total cost of construction is estimated at VND11.157 trillion (US$481.2 million), of which the government will provide VND6.067 trillion (US$261.7 million) while the rest will be secured from investors.
The expressway section is scheduled for completion in three years, with the tolling period estimated at 16 years and six months.
According to Le Kim Thanh, Director of the transport ministry’s PPP Department, this is the second of three expressway projects to be implemented under the PPP model.
The first project, Nha Trang-Cam Lam, was signed last week and the third will be the Cam Lam-Vinh Hao section.
Speaking at the signing ceremony on May 13, Deputy Transport Minister Nguyen Nhat asked the investors to ensure the project is completed on schedule whilst meeting all relevant quality requirements.
He also asked the appropriate agencies to work with the Nghe An and Ha Tinh authorities to deal with site clearance issues radically. Currently 98% of land needed for the project has been cleared.
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