Illustration of sections of North-South Expressway. (Source: VNA)

Hanoi (VNA)
– Prime Minister Nguyen Xuan Phuc has decided on the final investment plan for the ambitious 1,372-km North-South expressway project, which will cost 310 trillion VND (13.6 billion USD) over three phases spanning from 2017 to 2028 and beyond.

The approved plan was among three plans submitted by the Ministry of Transport (MoT).

According to this plan, in the first phase 2017-2022, the PPP (public-private partnership) model will be used, with 55 trillion VND (2.42 billion USD) sourced from the State budget.

About 386km of the four-lane expressway will be built anew, while another 81km will be upgraded and expanded from two lanes to four lanes.

In the second phase, 2023-2028, 905km will be built, with an initial budget of 142 trillion VND (6.24 billion USD), with State budget doling out 55 trillion VND and the rest falling upon private investors.

In the third phase, planned to be built after 2028, the entire expressway will be completed in line with the approved master plan, with a total investment of more than 69 trillion VND (3 billion USD).

The North-South expressway (CT01) runs almost parallel to the existing National Road 1A, from the northern mountainous province of Lang Son down to the southernmost province of Ca Mau, while the former starts in Hanoi city and ends in Can Tho city.

The expressway will connect multiple economic zones, industrial parks and seaports, giving a boost to socio-economic development in areas that it runs through, as well as alleviating traffic pressure from the main National Road 1A.-VNA