ADB loans $400m for expressway

The Asian Development Bank (ADB) will grant a loan of $410.2 million to an expressway project linking Ho Chi Minh City, Long Thanh and Dau Giay.

The Long Thanh section of the HCMC - Long Thanh - Dau Giay expressway. The ADB will loan over $400 million for its construction. (Photo: Tien Phong)

The loan agreement was signed March 20 in Hanoi between Ayumi Konishi, chief ADB representative in Vietnam, and Nguyen Van Giau, governor of the State Bank of Vietnam.

The $932 million project will receive other funding from the Japan International Cooperation Agency and the Vietnam Expressway Corporation.

The project, expected to start this year, will comprise a four-lane expressway, 60-63 meters wide and 51 km long.

It will run from Ho Chi Minh City, over a 1.7 kilometer bridge spanning the Dong Nai River at Long Thanh town, Dong Nai Province, to Dau Giay, also in Dong Nai.  

The expressway is expected to be completed in 2014.

By H. Yen – Translated by Truc Thinh

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