The Vietnam Expressway Investment and Development Company (VEC) transferred the packages to Keangnam Enterprises Co., Ltd of the Republic of Korea which is in charge of the project.

The A4 bidding package covers construction work on a 29.74 km highway costing over VND1.6 trillion in the northern province of Phu Tho while the A5 package worth over VND1.9 trillion in the northern province of Yen Bai has a total length of 41.15 km.

Construction work for both packages is scheduled to last 36 months, said Tran Xuan Sanh, VEC’s general director.

The Hanoi-Noi Bai highway project will be built at a total cost of nearly VND20 trillion (roughly US$1.24 billion), of which US$153 million will be funded by the VEC’s government-guaranteed bonds. The remainder will be in loans from the Asian Development Bank.