09:10 | 15/10/2015 Economy
The southern Binh Duong province held a ceremony on October 13 to inaugurate phase 1 of the My Phuoc-Tan Van road and start an expansion project for the ĐT743 route - the two arterial roads to help ease traffic flow and spur economic development in the province.
The ground-breaking ceremony for the ĐT743 route expansion project. (Image credit: baobinhduong.vn)
The six-lane My Phuoc-Tan Van expressway includes a 30km main road and 12km frontage road. It also has 18 bridges and four intersections, allowing vehicles to travel at a maximum speed of 100kph.
Total investment for the project is at over VND3.5 trillion (US$157.5 million), invested in a BOT model by Becamex Investment & Industrial Development Corp (Becamex IDC).
In phase 1, construction was completed on a length of 16km with a total investment of VND825.6 billion (US$37 million).
Once completed, My Phuoc-Tan Van road will connect with the Asian Highway and Ho Chi Minh Highway to help synchronise transport systems of the southern key economic region.
It will connect major industrial parks of the southern investment destination locality with Thi Vai deep water port, container terminals (Dong Nai and Ho Chi Minh City ports) and Long Thanh international airport. According to calculations, the route will help reduce transit times by 25% and transport costs by 30%.
The ĐT743 route expansion project has a total length of 12.3km with six lanes stretching from Mieu Ong Cu intersection to Song Than overpass. Total investment for the project is at VND1.33 trillion (US$60 million).
Vice Chairman of Binh Duong provincial People’s Committee Tran Thanh Liem said that the inauguration of phase 1 My Phuoc-Tan Van road and expansion of the ĐT743 route are important to reduce overload from Binh Duong to Ho Chi Minh City via National Highway No. 13 and other existing routes, while opening up new opportunities for local sustainable economic development and investment attraction in the future./.