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Vietnam needs VND 860,093 bln to build North-South expressway network

Directorate for Roads of Vietnam (DRVN) yesterday said that it had submited to the Ministry of Transport the project on adjustment of the development plan of Vietnam expressway network to 2020 and its strategy for achieving 2030 target.
The project was based on the traffic volume of several high-speed axises and transport corridors that have faced an increase of traffic load compared to the previous forecast.

Accordingly, the eastern and western axes of the North- South Expressway will be built with a total length of 3,096 kilometers in the period of 2020- 2030. In particular, the eastern axis consists of 27 sections with its total length of 1,827 kilometers and the western axis consists of 24 stretches with its total length of 1,269 kilometers.

The highway system in the North includes 16 routes with its total length of 1,683 kilometers while the highway system in the Central and Central Highlands regions consist of four routes with total length of 316 kilometers. 

 The southern expressway system consists of seven routes with total length of 1,048 kilometers.

 The total length of the country’s expressway system will be 6,814 kilometers.

 The project is expected to need VND 345,167 billion (US$ 15.1 billion) in the period 2018- 2020, and VND 514,926 billion (US$ 22.6 billion) beyond 2030. Thus, the total investment would be about VND 860,093 billion (US$ 37.7 billion). 

The investment capital for the project will come from various sources including the state budget, government loans or loan guarantee, issuance of bonds…

In order to attract investment from other economic sectors, including foreign investors, the Directorate for Roads of Vietnam suggested the relevant ministries and agencies to expeditiously complete the policy mechanism, amendment and supplement for the regulations on financial support policy, taxes, prices, fees, franchises to increase the commercial viability of the project, ensure the satisfactory benefits of investors ...

 


By Bich Quyen – Translated by Huyen Huong

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