Highway to be built under state-private model
(7/16/2010 2:12:49 PM)
The government has approved construction of a highway linking Dong Nai Province and Phan Thiet under a public-private partnership model.
Private firm Bitexco, the World Bank's International Finance Corp and a third partner yet to be chosen will build the 128-kilometer Dau Giay-Phan Thiet Highway at an expected cost of VND14.35 trillion (US$775 million).
Bitexco will invest VND1.4 trillion and the remaining will be mobilized from credit organizations and other partners, according to the Vietnam News Agency.
The six-lane road will allow vehicles to travel at a maximum speed of 120 kilometers per hour.
Work on the project, which the government has allowed to be added to the list of projects seeking World Bank credit in 2010-11, is expected to begin later this year.
It will be the first highway planned to be built under the PPP model in southern Vietnam.
The Ninh Binh-Thanh Hoa expressway project in the northern region, also to begin this year, will also adopt the PPP model.
Source: Youth Newspaper