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ADB provides 410 mln USD for expressway project
The Asian Development Bank (ADB) has approved a 410.2 million USD loan to Vietnam to construct a four-lane expressway that will ease traffic congestion in and around the country’s southern economic hub of Ho Chi Minh City.
The 51-kilometre expressway will start from the centre of Ho Chi Minh City and end at the junction with National Highway 1 at Dau Giay in Dong Nai province. This major project includes the construction of a 1,700-metre bridge over the Dong Nai River at Long Thanh district.
According to the Manila-based bank, the Ho Chi Minh City-Long Thanh-Dau Giay Expressway will contribute to a more streamlined traffic flow, which will have a significant impact on economic activities in Vietnam’s largest city, the surrounding provinces, and the Greater Mekong Sub-region.
“Better roads assist people and businesses by lowering transport costs and transportation time,” John Cooney, Director, Infrastructure Division of ADB’s Southeast Asia Department, said in a press release on September 30.
The entire expressway project, scheduled to be completed in 2014, will cost 932 million USD, with other funding coming from the Japan Bank for International Cooperation (JBIC) and the Vietnam Expressway Corporation.
VNA
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