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Funds sought for highway upgrade
The Ministry of Transport is calling for investment in the third phase of a project to upgrade the Ho Chi Minh Highway.
According to the ministry, the capital sourced from the State budget accounts for only 20-30 per cent, which will be used for site clearance.
The project needs to seek capital from various different funding models between local and foreign investors, including Build-Operate-Transfer (BOT), Build-Transfer (BT), Build-Transfer-Operate (BTO) and others.
During the first phase (2000-07) of the project, the two-lane road was completed as well as other work to prevent landslides from occurring.
It runs from Ha Noi's Hoa Lac to Kon Tum Province's Tan Canh.
By the end of this year, the entire road from Cao Bang Province's Pac Bo and Ca Mau Province's Dat Mui Commune was expected to be completed and connected, and open to traffic.
However, work during the second phase (2007-10) has been delayed and the road will not be completed until the end of next year, according to the project management board.
The road, with a total length of 3,010 kilometres, begins at Pac Po Commemorative Zone in northern Cao Bang Province's Ha Quang District and ends in the southernmost province of Ca Mau in Ngoc Hien District.
The road has 25 sections with a total of 26 projects.
From now to 2015, three four-lane highway road sections will be built, including My An-Lo Te (76km with investment capital of VND18.5 trillion), Lo Te-Rach Soi (53.4km, VND6 trillion) and Cam Lo-Tuy Loan (182km, VND31 trillion).
From 2015-20, other highway sections will be built, including Kon Tum-Gia Lai-Dak Lak-Dac Nong (392 km, VND66.78 trillion), and Binh Ca-Son Tay-Cho Ben (143 km, VND18 trillion).
From 2020-25, highway sections will be built, including Chon Thanh-Duc Hoa-My An (160.4km, VND24,618 billion), Chon Thanh-Binh Phuoc intersection (63km, VND9.7 trillion) and Cay Chanh-Chon Thanh (102km, VND14.7 trillion).
From 2025 on, highway sections will be built, including Cho Ben-Khe Co (322km, VND38.7 trillion) and Khe Co-Cam Lo (282km, VND27.8 trillion).
In addition, other sections, with a total investment of VND30,919 billion, will also be completed or upgraded during this period.
The total investment capital for the third phase is estimated at around VND286.9 trillion (US$14.7 billion), according to the project management board.
In addition, during this phase, 54 roads will be upgraded that connect the road with the National Road 1A and many large seaports, with a total length of 2,608 km and a total investment of over VND54.5 trillion ($2.8 billion).
The detailed planning for building and upgrading the Ho Chi Minh Highway, which was approved by the Ministry of Transport, is awaiting Government approval, according to Pham Hong Son, general director of the project management board.
vietnamnews
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