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| Southern expressway speeds things along to tune of $932m |
4/25/2009 11:40:00 AM
An investment of US$932.4 million will be required to build the proposed 55 kilometre expressway linking HCM City with Long Thanh and Dau Giay in Dong Nai Province, according to the Ministry of Transport. The road will be built in two phases. The first phase will see a 25-metre-wide, four-lane highway being built, with the second expanding it into a 35-metre, eight-lane expressway.
When completed, the expressway will help reduce the distance from HCM City to Ba Ria-Vung Tau by 20 km, easing the pressure on National Highway No. 1 A.
It will also enable construction of the planned international airport in Long Thanh District, and exploitation of Thi Vai and Cai Mep Ports in Ba Ria-Vung Tau.
Deputy Minister of Transport Ngo Thinh Duc and Asian Development Bank officials reached an agreement earlier this week.
ADB will provide a loan of $410.2 million while $516.5 million will be borrowed from the Japan Bank for International Co-operation.
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| Vietnam News |
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