Updated : 05/27/2017 11:05 GMT + 7
Vietnam’s Prime Minister Nguyen Xuan Phuc has selected the official proposal for a colossal project to develop an expressway that runs from north to south.
The selected proposal, prepared by the Ministry of Transport and which has been open for feedback from state agencies, aims to develop 1,372 kilometers of expressway from now to 2025, with a hefty investment of VND314.1 trillion (US$13.84 billion).
The development plan selected by the Vietnamese premier on Friday will be improved and finalized before the government reports it to the lawmaking National Assembly.
According to the proposal, the north to south expressway will include a 1,622km stretch from the Huu Nghi Pass in the northern Lang Son Province to Dau Giay Town in the southern Dong Nai Province, which borders Ho Chi Minh City. This section will be connected with an existing expressway from Dau Giay to the Mekong Delta city of Can Tho.
Of the 1,622km highway, 123km has been completed while another section of 127km is being constructed. The remainder 1,372km will be constructed with four to six lanes, varying between localities where the highway crosses.
The whole project is divided into two main phases with the first one scheduled for the 2017-25 period, and the second one, from 2025 onwards.
The first phase is expected to include two sub-phases with the first one running from 2017 to 2020. During this period, 632km of new road will be constructed and 81km of the current expressway will be expanded.
The estimated cost for this first sub-phase is VND130 trillion (US$5.72 billion), of which VND55 trillion ($2.42 billion) is contributed by the government and the remaining capital is drawn from the private sector.
During the second sub-phase from 2021 to 2025, the country is expected to develop another 659km of expressway, estimated to cost VND113 trillion ($4.97 billion), of which the government will contribute VND57 trillion (US$2.63 billion).
The second main phase starting from 2025 with a vision to 2030 includes expansion of various parts of the highway with a budget of VND69 trillion (US$3 billion).
The complete expressway that runs across the nation will span 1,372 kilometers, with investment totaling VND314.1 trillion.
The PM-backed proposal will be reviewed before being submitted for legislature’s approval during the third session of the National Assembly, running from May 22 to June 20, Deputy Minister of Transport Nguyen Nhat told Tuoi Tre (Youth) newspaper.
If approved by the National Assembly, the construction of the new north to south expressway will help connect various socioeconomic centers between the capital and the southern metropolis and reduce traffic pressure on the current National Highway No. 1.