Multi-industry group Bitexco has been selected by the Government andthe World Bank as an investor of the 757 million USD Dau Giay – PhanThiet Expressway Project, the nation’s first public private partnership(PPP) infrastructure project.
In a press release on July 18,Bitexco said it would contribute a 60 percent stake to the project andwould also take part in the country’s programme to find, amongst severalAsian nations, a second investor.
The four-lane, 100kmexpressway will connect Ho Chi Minh City to the southern centralcity of Phan Thiet and would be a critical link in the nationalnorth-south highway corridor.
The expressway, expected to becompleted in 2019, will reduce travelling time between HCM Cityand neighbouring industrial areas and tourism sites in the centralcoastal region.
According to Bitexco chairman Vu Quang Hoi, theproject will be showcased this month in India, the Republic ofKorea and Singapore, all of whom have significant investments inVietnam.
Additional infrastructure projects, includingaviation terminals, seaports and subways, will be constructed along thehigh way.
“This is an important project for the nation,” said World Bank’s country director for Vietnam Victoria Kwakwa.
“There have been significant improvements in roadway capacity butdemand still outstrips capacity. The new expressway will boost economicdevelopment in southern part of the country,” she stressed.-VNA
In a press release on July 18,Bitexco said it would contribute a 60 percent stake to the project andwould also take part in the country’s programme to find, amongst severalAsian nations, a second investor.
The four-lane, 100kmexpressway will connect Ho Chi Minh City to the southern centralcity of Phan Thiet and would be a critical link in the nationalnorth-south highway corridor.
The expressway, expected to becompleted in 2019, will reduce travelling time between HCM Cityand neighbouring industrial areas and tourism sites in the centralcoastal region.
According to Bitexco chairman Vu Quang Hoi, theproject will be showcased this month in India, the Republic ofKorea and Singapore, all of whom have significant investments inVietnam.
Additional infrastructure projects, includingaviation terminals, seaports and subways, will be constructed along thehigh way.
“This is an important project for the nation,” said World Bank’s country director for Vietnam Victoria Kwakwa.
“There have been significant improvements in roadway capacity butdemand still outstrips capacity. The new expressway will boost economicdevelopment in southern part of the country,” she stressed.-VNA
