Toll collection on Ben Thuy II Bridge is being implemented to expand National Highway 1A.
Given the limited state budget, the Ministry of Transport has assigned Cienco 4 as the investor to implement the project to upgrade and expand National Highway 1A from the south of Ben Thuy II Bridge to Ha Tinh City under the BOT (Build-Operate-Transfer) model.
Accordingly, right from the start of the project, Cienco 4 will collect tolls on Ben Thuy II Bridge to expand National Highway 1A.
The investment project to upgrade and expand National Highway 1A from the southern end of Ben Thuy II Bridge to Ha Tinh City, which has just been launched, is the starting point to realize the goal of expanding National Highway 1A and connecting Hanoi to Can Tho by 2016.
Given the limited state budget, the Ministry of Transport has assigned Cienco 4 as the investor to implement the project to upgrade and expand National Highway 1A from the south of Ben Thuy II Bridge to Ha Tinh City under the BOT (Build-Operate-Transfer) model.
Accordingly, during the initial phase of the project, Cienco 4 will collect tolls on Ben Thuy II Bridge to fund the expansion of National Highway 1A.
According to Mr. Le Ngoc Hoa, General Director of Construction Corporation No. 4 (Cinenco 4), this is a project where investors are working together with the Government and the Ministry of Transport to extend sections of National Highway 1A to expand it.
Regarding the toll collection mechanism, Mr. Hoa stated that from now until the end of 2014, during the construction period, Cienco 4 will collect 15,000 VND/1 CPU (converted vehicle). After the project is completed in 2014-2016, Cienco 4 will increase the fee to 20,000 VND, a 5,000 VND increase compared to the current rate.
After 2016, the fee increase will be implemented every three years, with each increase being 20% (1.2 times). With this mechanism, the payback period is approximately 20 years, with the lender providing the loan for 12 years.
The General Director of Cienco 4 also stated: Many people wonder why they have to pay a fee even though they don't use the Ben Thuy II bridge. However, this is not a fee for the Ben Thuy II bridge, but a fee for the investor of the Vinh City bypass.
Regarding land clearance for the bypass route, the General Director of Cienco 4 stated that land has been cleared in 3 out of 4 districts. Currently, only Can Loc district has not yet paid compensation for land clearance.
“We are proposing to the Ministry of Transport to use budget funds and bond funds for land clearance. BIDV, the sponsor, has committed to financing 85% of the construction costs, and the investor, a total of four companies, will bear the remaining 15% by providing all equipment, capabilities, and experience to implement the project.”"Mr. Hoa said."
(According to Vietnamnet) - LH
