PM approves results of the road project

Deputy Prime Minister Hoang Trung Hai has approved the results of negotiations with a foreign partner, the content of a loan agreement and other documents related to a road building project in northern mountainous provinces.

The Deputy PM has authorized the Governor of the State Bank of Vietnam to sign the loan agreement with a representative from the Asian Development Bank (ADB).

Six provinces such as Cao Bang, Bac Kan, Ha Giang, Tuyen Quang, Yen Bai and Lao Cai will benefit from the project which is divided into two phases.

In phase I (from 2012-2017), a number of roads with a total length of 300 kilometers will be upgraded at an estimated cost of $109 million, of which $80 million is sourced from the ADB loan. – VOV

Posted by VBN on Nov 10 2011. Filed under Infrastructure. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry