Work begins on Vietnam’s Long Van-Long My road project
Work has begun on the Long Van-Long My road in Vietnam's Binh Dinh province. The US $47.71 million project (VND 995bn), due for completion in 2015, will create a 7km road connecting National Highways 1D and 1A in Quy Nhon town.
August 28, 2012
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Work has begun on the Long Van-Long My road in Vietnam's Binh Dinh province.
The US $47.71 million project (VND 995bn), due for completion in 2015, will create a 7km road connecting National Highways 1D and 1A in Quy Nhon town.
An approval has been granted by the prime minister to scale down and slash investment for a road project linking Hai Phong-Hanoi and Cau Gie-Ninh Binh motorways in Vietnam.
In 2011, work on the project started and within 2015, it is anticipated that the project will reach completion.
Due to a capital squeeze, investment on the project will reach nearly US$212 million, a cut of almost $39.64 million.
By 2017, stage one of constructing two traffic lines will be completed.
Additional funding is being sought for the third stage of a project that will upgrade the 3,010km Ho Chi Minh Highway in Vietnam. The third phase of the project has an estimated investment capital of some US$14.7 billion and foreign and local investors are being invited to invest in the road through different funding structures. The funding models will include the proven build-transfer-operate (BTO), build-transfer (BT) and build-operate-transfer (BOT) systems, with from 20%-30% of the funding to come from
