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Work on Tan Phu-Bao Loc expressway project in southern Vietnam to start in Q3

Work on Tan Phu-Bao Loc expressway project in southern Vietnam to start in Q3

Sunday, April 09, 2023, 10:05 GMT+7
Work on Tan Phu-Bao Loc expressway project in southern Vietnam to start in Q3
The Lien Khuong-Prenn expressway is the only one of its kind in Lam Dong Province, located Vietnam’s Central Highlands region. Photo: M.V. / Tuoi Tre

The administration of Lam Dong Province in Vietnam’s Central Highlands region said on Friday it is processing procedures to break ground on the Tan Phu-Bao Loc expressway project in September this year.

The 67km-long expressway will start from an intersection with the Dau Giay-Tan Phu expressway in neighboring Dong Nai Province and end in Lam Dong’s Bao Loc City.

The project requires VND17.2 trillion (US$735 million) in investment. Of this, the state budget accounts for VND6.5 trillion ($277 million), while the remainder is covered by investors and other sources.

The route is slated for completion in June 2026.

A consortium of Deo Ca Group JSC, Hung Thinh Corporation, and Nam Mien Trung Group JSC will serve as the project investor, according to the Lam Dong administration’s report sent to the prime minister.

The project will need some 455 hectares of cleared land, with a majority in the Central Highlands province of Lam Dong.

The localities through which the expressway will pass already worked on site clearance issues and zoned resettlement areas for affected households.

It usually takes over 20 years for expressway project developers to recoup investment, while credit institutions set a loan term of 15 years, said the People’s Committee of Lam Dong Province.

The provincial government, therefore, proposed the prime minister ask the State Bank of Vietnam to issue policies and mechanisms helping remove obstacles hindering investors from accessing bank loans.

Earlier, an interdisciplinary appraisal council said that the project’s pre-feasibility study is eligible to be submitted to the prime minister for consideration and approval.

Pham S, vice-chairman of the Lam Dong People’s Committee, said the provincial government will carry out procedures to send bidding invitations.

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Minh Duy – Mai Vinh / Tuoi Tre News

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