Deputy Prime Minister Pham Binh Minh speaks at the event (Photo: VNA) Covering areas of Lai Chau, Lao Cai and Yen Bai provinces, the project will build two routes at total costs of 5.339 trillion VND (235.328 million USD) sourced from a loan by the Asian Development Bank and a non-refundable aid from the Australian Government and capital from the Vietnamese Government.
One of the routes, about 147km long, connects Lai Chau to the Hanoi – Lao Cai highway, while the other, some 53km, links Yen Bai’s Nghia Lo town to the highway.
With the Ministry of Transport as its investor, the project will be carried out in 2021-2024. Once completed, the routes are expected to shorten the journey from the three provinces’ political and economic hubs to the capital city, reducing transport cost and traffic congestion and promoting socio-economic development.
Speaking at the ceremony, Deputy Prime Minister Pham Binh Minh highlighted the importance of the project, requiring its construction to be technically precise, use modern machines and equipment, and ensure the completion progress.
ADB Country Director in Vietnam Andrew Jeffries stated the bank hopes to continue working closely with the Vietnamese Government regarding local transport infrastructure development.
Tran Tien Dung, Chairman of the Lai Chau People’s Committee, vowed to create best conditions possible for the construction, regular inspect its progress, and promptly assist the investor./.
VNA
