CII signs BOT contract to expand Hanoi Highway project

HCM City Infrastructure Investment Joint Stock Co (coded CII) announced that the company and HCM City Department of Traffic and Transportation signed the Building-Operating-Transfer (BOT) contract for expanding Hanoi Highway.

The total investment capital for this project was estimated at about 2.288 trillion dong, exclusive the loans rates, capital-using cost and VAT.

The total length of the road was 15.7 kilometres from Saigon 2 Bridge to Dong Nai Bridge.

It’s expected that the company will sign the credit contract for transferring the management right and fee collection from vehicles in Hanoi Highway with Vietnam Joint Stock Bank for Foreign Trade (Vietcombank)– HCM City Branch and Vietnam Export –Import Commercial Joint Stock Bank (Eximbank) – Transaction Office No 1 – HCM City.

The total credit volume was estimated at 873 billion dong within the period of 12 years, with extended period of five years from the date of first-time disbursement. The interest rate would be calculated equal to the 12-month interest rate plus 2.5 percent per year.

In relating news, the company lately announced to sell 1.145 million shares of Nam Bay Bay Investment Joint Stock Co (coded NBB), reducing the total share volume to 5,000 NBB-coded shares, equal to 0.032 percent of the total listed volume.

After November 26 trading session, CII shares reduced by 2,500 dong to 55,500 dong per share and NBB rose 2,000 dong to 71,000 dong per share.

Tags: Vietnam business news