The Deo Ca Investment JSC and the Bank for Industry and Trade (Vietinbank) have inked a credit contract worth over 5,400 billion VND (253.8 million USD) for the construction of a tunnel running through the Ca pass, which links the two central provinces of Phu Yen and Khanh Hoa along National Highway 1.
According to Ho Minh Hoang, Director of the Deo Ca Investment JSC, the 3,900m tunnel with a total investment of 6,500 billion VND (305.5 million USD) is a key project which has significant political, socio-economic and security meanings.
The project is expected to help ease traffic congestion and reduce accident in National Highway 1, while contributing to developing the economic, industrial and tourism hubs in the central region and Phu Yen and Khanh Hoa provinces in particular.
Addressing the signing ceremony, Transport Minister Dinh La Thang urged the management board to exert more efforts to ensure the project progress, so that the tunnel can become operational by 2016, keeping pace with other projects on expanding National Highway 1, the main North-South route in the country.
Chairman of Vietinbank Board of Directors Pham Huy Hung affirmed that the bank will do it utmost to ensure the timely disbursement and help the project be completed as scheduled.-VNA
According to Ho Minh Hoang, Director of the Deo Ca Investment JSC, the 3,900m tunnel with a total investment of 6,500 billion VND (305.5 million USD) is a key project which has significant political, socio-economic and security meanings.
The project is expected to help ease traffic congestion and reduce accident in National Highway 1, while contributing to developing the economic, industrial and tourism hubs in the central region and Phu Yen and Khanh Hoa provinces in particular.
Addressing the signing ceremony, Transport Minister Dinh La Thang urged the management board to exert more efforts to ensure the project progress, so that the tunnel can become operational by 2016, keeping pace with other projects on expanding National Highway 1, the main North-South route in the country.
Chairman of Vietinbank Board of Directors Pham Huy Hung affirmed that the bank will do it utmost to ensure the timely disbursement and help the project be completed as scheduled.-VNA
