Vidifi will break ground for a six-lane expressway from Ha Noi to Hai Phong on May 19 now that Deputy Transport Minister Hoang Trung Hai has approved the build-operate-transfer project.
|Ha Noi- Hai Phong expressway helps develop northern economy hub. (Photo: Viet Nam Net)|
The 105-kilometer road from Thanh Tri Bridge in the national capital to Dinh Vu Bridge in the port city is projected to cost VND24,000 billion and should take three years to build.
It will have a maximum speed limit of 120 kph and should cut down the travel time by more than half.
Vidifi, known in full as the General Company for Infrastructure Development and Financial Investment, is a joint venture by Vietnam Development Bank with a 50 percent stake, Vietcombank with 29 percent, Vinaconex with 10 percent and Saigon Invest Group with 10 percent. Its charter capital is VND5,000 billion.