BOT contract for North-South expressway section signed
The Saigon Times
|Representatives of the Ministry of Transport, Son Hai Group and Nha Trang-Cam Lam Expressway Investment and Construction Co., Ltd sign a build-operate-transfer contract for the Nha Trang-Cam Lam subproject – PHOTO: VNA|
HCMC – The Ministry of Transport, Son Hai Group–the investor of the Nha Trang-Cam Lam subproject of the North-South Expressway project—and the Nha Trang-Cam Lam Expressway Investment and Construction Co., Ltd on May 6 signed a build-operate-transfer contract for the subproject.
The 50-kilometer section will start in Dien Tho Commune of Dien Khanh District and end in Cam Thinh Tay Commune of Cam Ranh City. It will have four lanes and a design speed of 80 kilometers per hour, the local media reported.
The subproject requires an investment of some VND5.5 trillion, including nearly VND2.6 trillion coming from private resources and some VND2.9 trillion from the State budget. The section is expected to be executed in two years and the capital will be recovered after 16 years and four months.
The investor will have six months to mobilize capital from banks to execute the subproject. If it fails to mobilize capital, the Ministry of Transport will cancel the contract.
At the contract signing ceremony, Son Hai Group Chairman Nguyen Viet Hai committed to executing the subproject with the best quality and progress possible to meet the expectations of the Ministry of Transport and the people.
Deputy Minister of Transport Le Dinh Tho asked the Son Hai Group to complete procedures to borrow loans from banks early and execute the subproject in a transparent manner with its progress and quality being the top priorities.
The North-South Expressway project in the 2017-2020 period has 11 subprojects. Eight of them are under construction.
Nha Trang-Cam Lam is the first subproject of the expressway project executed under the public-private-partnership (PPP) model to have its contract signed.
The Ministry of Transport will complete negotiations and sign contracts with the investors of the Dien Chau-Bai Vot and Cam Lam-Vinh Hao subprojects, two others executed under the PPP format, next week.
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