Resolution on switching investment format of North-South Expressway’s component projects adopted

The National Assembly Standing Committee votes to adopt the resolution (Photo: VNA)

Hanoi (VNA) – With 100 percent of votes, members of the National Assembly (NA) Standing Committee on January 11 adopted a resolution on the switching of investment format of some component projects on the Eastern North-South Expressway project in the 2017-20 period, which failed to find investors through biddings.

According to Minister of Transport Nguyen Van The, the Eastern North-South Expressway project consists of 11 sub-projects, including six using public investment capital and five invested through public-private partnership (PPP) form with total approved investment of over 78.46 trillion VND (3.37 billion USD).

Of the five PPP projects, two sub-projects – National Highway 45-Nghi Son and Nghi Son-Dien Chau sections - could not choose the investors, he said, adding that the switching of their investment form to public investment will help speed up their implementation as well as the speed of the whole project.

NA Vice Chairman Phung Quoc Hien said that the investment format switching will not push the total State budget approved by the NA to the Eastern North-South Expressway project up, and change its investment scale decided by the NA.

Also on January 11, as part of their 52rd session, the NA Standing Committee also discussed a draft report on the State Audit’s performance in the 2016-2021 period, while giving their comments on the application of Clause 22, Article 4 of the Public Investment Law./.

VNA