Vietnam calls for investment in North-South Expressway

10:46 | 21/05/2019 Investment

The Ministry of Transport (MOT) held a conference on May 17 to call for investment in a number of sections of the eastern North-South Expressway.

The total costs for these 11 projects are estimated at VND118 trillion (US$5 billion)

The conference drew the participation of around 100 domestic investors and 50 foreign investors from Japan, China and the Republic of Korea.

MOT Deputy Minister Nguyen Nhat said, in the first stage until 2020, Vietnam plans to build 11 sections of the North-South Expressway with a total length of 654 kilometres traversing 13 provinces and cities.

Three sections will be funded by the government budget while the other eight will be built under public-private partnerships (PPP).

The total costs for these 11 projects are estimated at VND118 trillion (US$5 billion), of which the government will spend VND55 trillion (US$2.4 billion) on three public investment projects and site clearance for other projects.

Deputy Minister Nhat said the MOT is working to complete the technical designs and site clearance for the projects.

He added that the eight PPP projects will be open to international bidding with Deloitte and Ernst & Young as consultants.

Nhat affirmed that any capable and experienced investors, who are capable of providing the best services at reasonable costs, will be selected to carry out the projects.

The three sections that will be entirely funded by the state budget are Cao Bo-Mai Son (15km), Cam Lo-Son La (98km) and My Thuan 2 Bridge, which will cost a total of VND14.279 trillion (around US$614 million).

The sections to be carried out by private investors are Mai Son-National Highway 45, National Highway 45-Nghi Son, Nghi Son-Dien Chau, Dien Chau-Bai Vot, Nha Trang-Cam Lam, Cam Lam-Vinh Hao, Vinh Hao-Phan Thiet and Phan Thiet-Dau Giay.

Theo NDO