Vietnam ministry seeks US$1B WB loan for expressway project
The Vietnamese Ministry of Transport is seeking a US$1-billion loan from the World Bank (WB) to build Nghi Son-Bai Vot expressway in the central region in 2011-2014 period.
The 94.1-kilometer highway, which will link Nghi Son in Thanh Hoa province and Bai Vot in Ha Tinh province, is a part of North-South expressway project approved by the prime minister.
Under a proposal by consultant Road and Bridge Engineering Consultants JSC (TEDI), the expressway will have between four and six lanes and allow vehicles to travel at 120 km/hour.
TEDI also estimates a total investment for the Nghi Son-Bai Vot expressway project will be VND20 trillion (US$1.04 billion).
The Southeast Asian country needs US$16 billion for infrastructure transport projects a year; however, it can afford half of that figure.
At a recent Consultative Group meeting, donors said that weak infrastructure is one of Vietnam’s biggest barriers hindering foreign investment inflow and urged it to further focusing on deal with the problem.
Tags: invest in Vietnam, Vietnam expressway projects, Vietnam investment