Tien Phong Technology Company has signed a procurement and construction (EPC) contract with VETC Vietnam Joint Stock Company to launch an electronic toll collection and truck weight control system at 19 stations in National Highway 1A across the country and Ho Chi Minh Highway in the Central Highlands this year.
Director General of Tien Phong Company said that the project is expected to compete this year at a total investment cost of VND200 billion (US$8.96 million).
Automobiles will be installed with e-tags free of charge and connected with an online payment system via banks.
The project will help save VND70 billion in ticket printing cost a year, VND233 billion fuel cost, and VND360 billion traffic management cost and shorten travel time worth VND2,800 a year, according to Mr. Quan.
