Bien Hoa – Vung Tau Expressway Project has three options of investment

SGGP
The People’s Committee of Ba Ria – Vung Tau Province yesterday held a press conference to listen to the pre-feasibility study reports related to the Bien Hoa – Vung Tau Expressway Project.

Bien Hoa – Vung Tau Expressway Project has three options of investment

The expressway will have its length of nearly 60 kilometers and 8.8-kilometer path route with a total investment of nearly VND23.7 trillion (US$1 billion), of which the section through Dong Nai Province will spread nearly 35 kilometers with an investment of nearly VND13,000 billion (nearly US$558 million). 

Currently, there are three investment options, of which the first option will invest in the whole project spreading from Bien Hoa City to Vung Van Intersection in Vung Tau City under the form of public - private partnership (PPP). 

With this option, Ba Ria - Vung Tau Province will spend VND7,704 billion (US$330 million), the Central will support Dong Nai Province VND5,756 billion (nearly US$247 million) and investors will spend about VND10,233 billion (nearly US$439 million) for the rest.

The second option is to divide the project into two sections. In which, the first section spreading from Bien Hoa City to Phu My Town and the interprovincial road connecting with the Cai Mep - Thi Vai Port will be invested under PPP form with the investment of VND15,633 billion (nearly US$672 million). 

The second section from Phu My Town to Vung Van Intersection will be invested about VND8,060 billion (US$346 million) under the decision of Ba Ria - Vung Tau Province.

The third one will separate the interprovincial road connecting to Cai Mep - Thi Vai Port and bypass junction section of the National Highway 56 to Vung Van Intersection with budget investment capital of Ba Ria - Vung Tau Province, the rest section from Bien Hoa City to the bypass junction section of the National Highway 56 shall be invested under PPP form with the amount of VND18,587 billion (US$798 million).

If the first option is approved with the State investment capital of over VND10,000 billion (US$429 million), the National Assembly will decide on the investment policy while the Prime Minister will decide on the investment policy for the second and third options.

The current difficulty is that the project has not been listed on the medium-term public investment plan in the period of 2021-2025 with the Central capital.

Pursuant to information from SGGP Newspaper about the project, Deputy Chairman of the People’s Committee of Ba Ria – Vung Tau Province said that the province would  decide to select the second option for the implementation of the project.

By Nong Ngan – Translated by Huyen Huong

Other news