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

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.
Resolution on switching investment format of North-South Expressway’s component projects adopted ảnh 1The National Assembly Standing Committee votes to adopt the resolution (Photo: VNA)
Hanoi (VNA) – With 100 percent of votes, membersof the National Assembly (NA) Standing Committee on January 11 adopted aresolution on the switching of investment format of some component projects onthe 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, includingsix using public investment capital and five invested through public-privatepartnership (PPP) form with total approved investment of over 78.46 trillionVND (3.37 billion USD).

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

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

Also onJanuary 11, as part of their 52rd session, the NA Standing Committee alsodiscussed a draft report on the State Audit’s performance in the 2016-2021period, while giving their comments on the application of Clause 22, Article 4 ofthe Public Investment Law./.
VNA
#National Assembly Standing Committee #Eastern North-South Expressway project #public-private partnership (PPP) #National Highway 45-Nghi Son and Nghi Son-Dien Chau sections #Vietnam #Vietnam news #Vietnam News Agency
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