ADB funds $900m for Hanoi-Lang Son Expressway project

Ministry of Transport (MoT) has worked with representative of Asian Development Bank (ADB) about capital arrangement for carrying out construction of Hanoi-Lang Son Expressway. This project was supposed to be carried out by Vietnam Expressway Investment and Development Corp (VEC) as the main investor.

In details, the starting point of the project was in Huu Nghi Border Gate in Lang Son province and the ending points of Nhu Nguyet Bridge, Bac Ninh province with total length of 130 kilometres.

As for the capital source, the ministry has reached an agreement with Asian Development Bank (ADB)’s proposal that the sponsor will offer the OCR loans (Ordinary Capital Resources) with total value of $900 million and co-fund with South Korean Export-Import Bank of $200 million.

At present, VEC was making feasibility studies for this project.

Tags: Hanoi-Lang Son Expressway

Posted by VBN on Jul 19 2010. Filed under Banking-Finance, Infrastructure. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry