Authorities in the northern province of Quang Ninh on May 18 handed over an investment license to the Cong Thanh and Phuong Thanh transport construction investment joint stock companies, which will work together on the construction of the Ha Long-Van Don highway in the locality.

The 60 kilometre, four-lane highway will be built using the BOT (build-operate-transfer) model with an investment capital of 14 trillion VND (644 million USD). It will connect Hanoi, the northern port city of Hai Phong and Quang Ninh province.

The new highway is also expected to reduce the volume of traffic on National Road 18, which itself will have a section upgraded, and shorten travelling time from Hanoi to Ha Long city and Van Don district’s Economic Zone. This is expected to encourage further investment activities and socio-economic development in Quang Ninh and key northern areas.

Construction on the project is scheduled to be completed over 29 months.-VNA