Multi-industry group Bitexco has been selected by the Government and the World Bank as an investor of the 757 million USD Dau Giay – Phan Thiet 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 and would also take part in the country’s programme to find, amongst several Asian nations, a second investor.
The four-lane, 100km expressway will connect Ho Chi Minh City to the southern central city of Phan Thiet and would be a critical link in the national north-south highway corridor.
The expressway, expected to be completed in 2019, will reduce travelling time between HCM City and neighbouring industrial areas and tourism sites in the central coastal region.
According to Bitexco chairman Vu Quang Hoi, the project will be showcased this month in India, the Republic of Korea and Singapore, all of whom have significant investments in Vietnam.
Additional infrastructure projects, including aviation terminals, seaports and subways, will be constructed along the high 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 but demand still outstrips capacity. The new expressway will boost economic development 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 and would also take part in the country’s programme to find, amongst several Asian nations, a second investor.
The four-lane, 100km expressway will connect Ho Chi Minh City to the southern central city of Phan Thiet and would be a critical link in the national north-south highway corridor.
The expressway, expected to be completed in 2019, will reduce travelling time between HCM City and neighbouring industrial areas and tourism sites in the central coastal region.
According to Bitexco chairman Vu Quang Hoi, the project will be showcased this month in India, the Republic of Korea and Singapore, all of whom have significant investments in Vietnam.
Additional infrastructure projects, including aviation terminals, seaports and subways, will be constructed along the high 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 but demand still outstrips capacity. The new expressway will boost economic development in southern part of the country,” she stressed.-VNA
