According to Minister of Transport Nguyen Van The, the two BOT transport projects will make significant contributions to socio-economic development in Hanoi and the provinces of Hoa Binh and Phu Tho.
The Hoa Lac-Hoa Binh BOT project was carried out at a total investment of nearly VND3 trillion ($131.2 million via a joint venture between the Defence Ministry’s Corporation No. 36 and two private companies, Thanh Loc Construction JSC and Hanoi Investment and Trade JSC.
The project comprises two components, building the 25.7km Hoa Lac-Hoa Binh highway and upgrading 30.6km of the Xuan Mai-Hoa Binh section of National Road No.6.
Chairman of the Corporation No.36 Nguyen Dang Giap said that besides helping to shorten the distance between Hanoi and Hoa Binh by some 20km, the road will also serve as an important driver for socio-economic development in the northwestern region.
Another BOT project, the Van Lang bridge was invested at a total cost of 1.46 trillion VND (63.64 million USD) by Phu Ha BOT Co., Ltd.
It is a link between National Road 32 and National Road 32C and spans across the Red River. The main bridge is 1.55km in length and the approaching roads have a combined length of 7.8km.
The Ministry of Transport said that the new bridge facilitates traffic between Hanoi and the midland province of Phu Tho, thus boosting local economic development and helping to tap into the tourism and service potential of the locality.
Investors will begin collecting fees to refund their investment after the two BOT projects have been put into commercial use in one or two months.