Nearly 290 mln USD proposed to pay foreign loans of Hanoi-Hai Phong expressway

The Hanoi - Hai Phong expressway (Photo: VNA)

Hanoi (VNA) – The Ministry of Transport (MoT) has just sent a document to the Ministry of Planning and Investment (MPI) on the allocation of over 7 trillion VND (287.3 million USD) worth of medium-term foreign capital in the 2021-2025 period for the Hanoi - Hai Phong expressway project.

Accordingly, the MoT proposed the MPI to report to the Government to submit to the National Assembly Standing Committee for permission to allocate the medium-term public investment plan for the 2021-2025 period with foreign capital for the Hanoi - Hai Phong expressway under the policy of allowing the transfer of on-lending and government loan guarantee into state budget allocation, approved by the National Assembly in Resolution 63/2022/QH15 dated June 16, 2022.

The amount will be used to pay almost 4.7 trillion VND in the principal of a loan from the Export-Import Bank of Korea and over 2.33 trillion VND in the principal of a loan from the German Development Bank (KfW).

The 105.5km Hanoi-Hai Phong expressway had a total investment of over 45.48 trillion VND. It was opened to traffic in 2015./.

VNA