Investor presents plan to reduce ticket price at Hoang Mai toll station

(Baonghean.vn)- On December 25, the representative of the BOT investor consortium, CIENCO 4 Group and 319 Corporation, said that they had submitted a plan to reduce prices for local vehicles within a 5km radius of the toll station.

If this plan is approved by the Ministry of Transport, ticket prices will be reduced by 50% for vehicles of type 1 and 2 and by 20% for vehicles of type 3, 4 and 5 owned by individuals with permanent residence and organizations and businesses headquartered in Truong Lam, Hai Thuong, Mai Lam and Hai Ha communes (Tinh Gia, Thanh Hoa) and Quynh Thien, Quynh Loc and Quynh Vinh communes (Hoang Mai town, Nghe An), from January 1, 2018.

Buses are discounted 100%.

Hoang Mai toll station. Photo: PV

Regarding the general price reduction policy, the representative of the investor consortium affirmed that it will not be implemented yet because the reduction of road service prices must be based on the principle of ensuring the feasibility of the financial plan, and for the project, the total investment will not decrease, the traffic volume will tend to be lower than in the financial plan of the BOT contract, especially when the policy of building the North-South expressway has been approved by the National Assembly and is expected to be put into operation in 2020-2022.

“The proposal of the General Department of Roads to reduce the general price for type 1 cars by 30,000 VND, type 2 cars by 45,000 VND, type 3 cars by 60,000 VND, type 4 cars by 110,000 VND and the highest 175,000 VND for type 5 cars is not sufficient to implement because the payback period calculated by the consortium in this case is up to 25 years and 11 months, which does not ensure the project's financial payback plan as well as the credit agreement with the bank,” the representative of the consortium of investors analyzed.

People living near the station will get half the ticket price from January 1, 2018. Photo: PV

The project to expand and upgrade National Highway 1, Nghi Son - Cau Giat section, is nearly 34 km long with a total investment of over VND3,620 billion. Hoang Mai toll station has been in operation since May 3, 2015, with an expected toll collection payback period of 17 years and 5 months. Currently, the lowest BOT fee at Hoang Mai station is VND35,000, the highest is VND180,000./.

Tien Hung