North-South Expressway through Nghe An invests nearly 42,000 billion VND

Government leaders requested the formation of a North-South expressway that meets large transport capacity, high speed and safety; connecting economic centers from Hanoi to Ho Chi Minh City through 20 provinces and cities.

The Government Office has just announced the conclusion of Deputy Prime Minister Trinh Dinh Dung at the meeting to prepare for investment in the North-South expressway construction project.

Accordingly,This is an important national project so it needs to be implemented in accordance with regulations, submitted to competent authorities for approval of investment policy, and meet required progress.

Regarding the investment plan, the Deputy Prime Minister assigned the Ministry of Transport to direct the consulting unit to complete two plans, which are the state support of 63,000 billion VND and 70,000 billion VND, and report to the Prime Minister for decision before submitting to the National Assembly. The state support capital will be mainly for site clearance and partly for investment, the remaining 70% of the total investment will be mobilized from socialized sources.

Highways help speed up the flow of passengers and goods.

To ensure project progress, the Deputy Prime Minister requested the Ministry of Planning and Investment to urgently submit to the Prime Minister the establishment of a State Appraisal Council to appraise the project according to regulations.

The Deputy Prime Minister requested the project to form a North-South expressway that meets large transport capacity, high speed and safety; connects economic and social centers from Hanoi to Ho Chi Minh City through 20 provinces and cities; connects economic zones, industrial parks, and seaports to develop the economy and society of the areas where the expressway runs through in particular and the whole country in general; reduces pressure and exploits National Highway 1 more effectively.

Deputy Prime Minister Trinh Dinh Dung assigned the Ministry of Transport to direct the consulting unit to proactively prepare component investment projects to implement construction immediately after the National Assembly approves the investment policy for the entire route.

In addition, the Ministry of Transport will coordinate with relevant ministries and branches to complete specific mechanisms, including mechanisms for mobilizing socialized investment capital, and submit them to the Government and the National Assembly for approval according to their authority.

Recently, the Ministry of Transport has researched and invested in building nearly 600 km in the period up to 2022 and opening the entire route by 2025.

Mr. Pham Huu Son, General Director of Transport Engineering Consulting Corporation (TEDI), said that the Ministry of Transport had set a target of completing the construction of 1,372km of the North-South Expressway by 2022. At that time, the Ministry proposed that the Government allocate a budget package of about VND70,000 billion to support projects under the PPP form.

However, in the medium-term public investment plan, the Ministry of Transport may only be allocated about VND70,000 billion in government bond capital by 2020 for all projects, including the North-South expressway sections. If all of this money is spent on expressway investment, other transport projects will have to stop because there is no money to implement. Therefore, the consulting unit has adjusted the plan, from 1,372 km to 573 km of expressway by 2022, with State capital support of about VND41,400 billion.

According to Mr. Son, the 575 km expressway to be built is the Cao Bo (Nam Dinh) - Mai Son (Ninh Binh) - Vinh (Nghe An) and Vinh Hao - Phan Thiet (Binh Thuan) - Dau Giay (Dong Nai) sections with a scale of four expressway lanes. The Cam Lo - La Son section alone will be invested in the form of BT.

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According to VNE