Gov’t seeks green light for highway, airport

The building of Long Thanh International Airport (Photo: vietnamnews.vn)

Hanoi (VNA) – The Government has asked the National Assembly to consider a number of projects with a total investment capital of more than 66 billion USD.

The projects include the North-South Highway, the Long Thanh International Airport and an electricity infrastructure project.

The four-lane North-South Highway, running from Hanoi to HCM City, is designed to be 1,373km long and is being divided into 20 smaller projects.

The Government will focus on a pre-feasibility study report in the 2016-20 period. It’s expected to be built in the 2020-30 period and will become operational by 2050.

According to Vietnamnet, the project is expected to cost 222.8 trillion VND (9.97 billion USD), of which, 136.28 trillion VND is to be mobilised from the private sector, while the remainder, used for site clearance and consulting will come from the State budget.

In the 2016-20 period, the project expects to use 70 trillion VND of Government bonds as the State’s capital contribution.

The Long Thanh International Airport in southern Vietnam is planned to receive 100 million passengers per year with an estimated capital investment of 16.3 billion USD.

Of the sum, some 5.9 billion USD will be invested in the first phase, which includes a runway, a terminal with a yearly capacity of 25 million passengers, and 1.2 million tonnes of goods.

The Government has also asked the National Assembly to approve a 858.66 trillion VND (38.4 billion USD) electricity infrastructure project, with 75 percent for developing power resources and 25 percent for the power network. The Government hopes to receive some 100 trillion VND from foreign investment capital, 200 trillion VND from Official Development Assistance capital, 4 trillion VND from the State budget and 554.6 trillion VND from the project’s investors and commercial loans.-VNA