The Ho Chi Minh City Infrastructure Investment Joint Stock Company (CII) April 2 began construction on the second phase of a project to expand the Hanoi Highway.
Delegates participate in the groundbreaking ceremony of the Hanoi Highway phase two expansion project on April 2 in HCMC. (Photo:Tuoi Tre)
Under the project, the road will be expanded to a total of 15.7 kilometers in length.
The starting point is the Saigon Bridge and the end point is located at Tan Van, linking with the new Dong Nai Bridge.
The project has total investment of nearly VND2.3 trillion (US$130 million), including VND458 billion ($24 million) of equity and the remaining from loans.
Under the contract, the BOT duration would be 36 years and three months. Of this, the toll duration would be 25 years and nine months.
Speaking at the groundbreaking ceremony, Deputy Chairman of the HCMC People’s Committee Nguyen Thanh Tai said that expanding the Hanoi Highway is expected to improve traffic circulation between eastern HCMC and Dong Nai and Binh Duong Province.