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.

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Posted by VBN on Aug 10 2010. Filed under Int'l Cooperation, Investment. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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