The Hai Phong Urban Transport Development Project to be extended till August 2018

HANOI, NOVEMBER 16 (Engineering Daily) -- The Prime Minister has approved the adjustment of investment plan for Hai Phong Urban Transport Development Project.

The project “Hai Phong Urban Transport Development” have total investment of USD 276.61 million, including the International Development Association (IDA) funds of SDR 112.100 million (equivalent to USD 175 million). The project will be extended till 31 August 2018.

The PM assigned the Hai Phong City’s People’s Committee to coordinate with the State Bank of Viet Nam and the Ministries of Foreign Affairs and Justice to complete legal procedures to extend the deadline of the project.

At the same time, the Hai Phong City’s People’s Committee will implement the sufficient solutions to complete the project under the schedule extended; be responsible to mobilize the capital sources for variation cost incurred in relation to time extension, including commitment fee.