Investment of nearly VND 6,400 billion to build 23.5 km of Expressway My Thuan-Can Tho, Phase 1.

HANOI, June 1 (Engieering Daily) -- The project of Expressway My Thuan-Can Tho, Phase 1 implemented under Public-Private Partnership (PPP) model will select contractors from the 3rd Quarter to 4th Quarter of 2016.

The Minister of MOT has just approved the investment proposal of the Expressway section My Thuan-Can Tho, Phase 1 under PPP model.

This Expressway has the start point crossing with the Highway No. 80 (Km0+250), Vinh Long city and end point at intersection Cha Va (Km2062+700, Highway No.1) at Binh Minh Town, Vinh Long province.

The project that is about 23.5 km long will be implemented during Phase 1 with 4 lane expressway, width of 17m, no lane for emergency parking, and design speed of 80km/h.

According to the preliminary estimation of project consulting firm, the total investment of project is of VND 6,384.8 billion.

The financial plan will be specified in the next deployment, scheduled as follows: toll in the closed-form solution; toll of the project in period of 20 years and 6 months, the State support through the allocation of rights for investors to collect the highway toll in the section Ho Chi Minh City - Trung Luong for a period of 4 years 11 months (starting from 1st January 2030). In particular, the starting fare price in 2019 is VND 1,500 / standard vehicle / km for the section of My Thuan - Can Tho and planned to increase by 9% after every 3 years in the first 6 years, then the fare increase of 6% after every next 3 years; fare in the section Ho Chi Minh City - Trung Luong as per contract of the project Trung Luong - My Thuan, an increase of 6% / 3 years starting from 2031.

The MOT plans to review and approve the feasibility study since May 2016; select the investors since the 3rd Quarter to 4th Quarter of 2016; construction period of about 30 months.

The investment and construction of Expressway My Thuan-Can Tho is to synchronize the highway system from Ho Chi Minh City to Can Tho in conformity to the Plan approved by the Prime Minister; create the complete transport network and promote the efficiency of highway section Ho Chi Minh City-Trung Luong-My Thuan and projects being invested in the region; meet the requirement of goods and passenger transportation, shortening the travelling time; reducing traffic congestion and accident on the Highway No.1.

The project also contributes to promote the economic society development, to strengthen security - defense in the Mekong Delta Region in particular and the country in general.