FOCUSED IMPLEMENTATION OF PPP TRANSPORT PROJECTS

According to the Government's policy, expressways must be built in the investment form of public-private partnership (PPP) on the principle of harmonizing shared interests and risks among stakeholders, including the Government, investors and people.

Focused construction of dynamic highways

According to the Ministry of Transport, in the period 2011-2020, the country put into operation 1,163 km of expressways, expected to have 3,171 km more by 2025 and 5,000 km more by 2030.

On May 21, Prime Minister Pham Minh Chinh chaired a meeting on highway construction in 2021-2025 and to 2030, stressing that investors must pool investment resources rather than State funds, and speed up public-private partnership (PPP) forms.

He requested that new expressway construction must match the regional landscape but the focus needs to be given to dynamic regions. He asked the transport sector to determine goals on expressway construction to be achieved by 2025 and 2030, with a focus on the North-South expressway in the east, the South region, the Central Highlands and roads in Hanoi and Ho Chi Minh City.

PM Chinh unequivocally stated that wherever projects are, localities must take care of the budget and be responsible for site clearance.

Accelerating key PPP projects

At present, six out of 11 Eastern North-South expressway component projects (2017-2020) are under construction (Cao Bo - Mai Son, Mai Son - National Highway 45, Cam Lo - La Son, Vinh Hao - Phan Thiet, Phan Thiet - Dau Giay, My Thuan 2). The remaining five projects are being prepared for implementation as requested by the Government, with three to be launched in the PPP form in the second quarter of 2021.

On May 6, Nha Trang - Cam Lam section of the North-South Expressway, the first to be invested in the PPP form signed between the Ministry of Transport with Son Hai Group Co., Ltd and Nha Trang - Cam Lam Expressway Construction Investment Co., Ltd. The section is 50 km in length, costing a total of VND5,524 billion. The fund will come from the investor (VND2,556 billion, the investor's equity accounts for 20%) and VND2,967 billion from the government. The construction period will last until 2023 and the payback period is 16 years and 4 months.

Cam Lam - Vinh Hao section was handed over by Ninh Thuan province for 99% of site clearance. The BOT project, 78.5km in length, with 61.5 km in Ninh Thuan with six lanes, costs VND8,925.48 billion of investment capital, of which VND3,786.20 billion from the investor and VND5,139.28 billion from the government, including VND4,199.16 billion from viability gap funding (VGF) and VND940.12 billion from competent governmental agencies.

Dien Chau - Bai Vot section cost over VND11,157 billion for construction in the form of PPP investment. Started in late May 2021, the project has a total length of more than 49 km. The highway also has a 1.1 km tunnel and big bridges. Of the investment fund, the government will fund VND6,067 billion and mobilized resources will make up more than VND5,090 billion.

Source: VCCI

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