Vietnam to Pilot PPP Form for US$338M Expressway

The Vietnamese Ministry of Transport will pilot the investment model of public-private partnership (PPP) to build My Thuan-Can Tho expressway costing US$338 million.

The 32.3-kilometer road, which is a part of Trung Luong-My Thuan-Can Tho expressway, will connect My Thuan in the southern province of Tien Giang and Can Tho city.

Cuu Long Traffic Infrastructure Investment Development and Management Corp (Cuu Long CIPM) under the Ministry of Transport will set up a PPP firm to mobilize capital for the expressway.

Cuu Long CIPM will mortgage fee collection right of Can Tho Bridge to mobilize 30% of the project’s total capital.

Once operated in 2015, My Thuan-Can Tho expressway is expected to allow 40,000 vehicles to travel per day.

The Vietnamese prime minister has approved a plan to invest a total of VND350 trillion (US$18.324 billion) to build expressways through the end of 2020, state media said.

The Southeast Asian country needs US$16 billion for infrastructure transport projects a year; however, it can afford half of that figure.

Tags: My Thuan-Can Tho expressway, Vietnam Infrastructure