Hanoi, October 8 (Engineering Daily) -- Quang Ninh Provincial People's Committee has just announced Van Dong-Mong Cai Expressway Project in the form of PPP, BOT contract.
On September 18, 2018 the People's Committee of Quang Ninh province and the joint venture of Long Van Infrastructure Investment and Development Co., Ltd, Van Don Sun JSC, and Cong Thanh Transportation Investment & Construction Corporation JSC signed the project contract
Van Don, Tien Yen, Dam Ha, Hai Ha, and Mong Cai districts in Quang Ninh will be used of 456.2 ha and the total length is 80.2km.
The project has total investment of over VND11.195 trillion, of which VND1,262 billion is invested by the investor, VND9,857 billion is allocated by investors but the State does not contribute capital to invest.
Estimated time to implement the project contract is 20.39 years (including the construction period of 22 months and the estimated charge period is 18.56 years). In order to recover the investment capital for the project, the investor will build a toll collection system using the road service in the closed form. The service charge for road use will be applied for the first 3 years, in particular, cars with less than 12 seats, trucks with a tonnage of under 2 tons and public buses of 1,500 VND/km.
The increase in road service charges for the following years (after the first 3 years) is 18%.