Highway projects face severe capital shortage

Vietnam Expressway Corporation (VEC) yesterday reported to the Ministry of Transport a severe shortage of funds for site clearance of national highway projects.

According to VEC, the ministry has yet to approve capital supplementation plan for 2015 in which Da Nang-Quang Ngai Expressway needs VND1,479 billion (US$78.43 million), Ben Luc-Long Thanh VND1,850 billion ($83 million) and Noi Bai-Lao Cai VND385 billion ($17.26 million).

VEC has so far advanced VND1,080 billion (US$48.43 million) from toll revenues of projects that have opened to traffic to meet the urgent capital demand for site clearance and removal of technical infrastructures.

The company has not received this year’s capital allocation plan for the above projects affecting their progress.

By Minh Duy – Translated by Hai Mien

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