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|Tan Phu-Bao Loc Expressway will be built under the PPP model|
On February 4, the Government Office issued Notice No.24/TB-VPCP announcing the conclusion of Prime Minister Nguyen Xuan Phuc on the implementation of the Tan Phu-Bao Loc Expressway project.
The project will feature a roadway with the length of about 67km, and four lanes belonging to Dau Giay-Lien Khuong Expressway.
Accordingly, the PM agreed to assign the People's Committee of Lam Dong province to be the competent agency organising the implementation of the expressway project in 2021-2025 under the PPP model.
The People's Committee of Lam Dong province will take the helm in organising the mobilisation of financial resources according to current regulations.
The roughly estimated total investment (excluding interest rates) is about VND18.2 trillion ($791.3 million). Of this, the investorswill arrange about VND9.646 trillion ($419.4 million), while around VND8.554 trillion ($317.9 million) will be sourced from the public budget, including around VND4.227 trillion ($183.8 million) from the provincial budget, and approximately VND4.227 trillion ($183.8 million) arranged by the central government.
The Tan Phu-Bao Loc section of the Dau Giay-Lien Khuong route is in the development plan of Vietnam's expressway network in the period of 2021 with a vision to 2030, which has been approved by the PM in Decision No.326/QD-TTg dated March 1, 2016.
This project marks an important milestone for economic development in Lam Dong province as well as in the Central Highlands region.
The early implementation of the project is slated to solve the largest bottleneck of Highway 20, the dangerous section passing Bao Loc pass. This area is often affected by extreme weather and has remained unresolved for a long time.
The PM also asked the Ministry of Planning and Investment to coordinate with the Ministry of Finance and the Ministry of Transport to comment on the arrangement of the central budget in the period of 2021-2025.