Through investment in Bien Hoa expressway
According to this Council, the Bien Hoa – Vung Tau expressway project was approved by the Prime Minister with the investment policy in the form of public-private partnership (PPP). However, based on the current needs and context, the Ministry of Transport believes that switching to public investment is necessary. Because investment under the PPP method, if it is convenient to choose investors, is expected to be completed by the end of 2026, otherwise it will take longer. Therefore, the switch to public investment helps to shorten the project implementation time, ensuring the certainty of success.
In addition, the practical implementation of the North-South Expressway PPP projects in the period 2017-2020 shows that the process of arranging domestic credit sources is difficult and prolonged because domestic credit institutions are not large enough. large, mainly short-term deposits for medium and long-term loans. Meanwhile, to ensure the stability of monetary policy, the law on credit stipulates that the proportion of short-term capital sources used for medium and long-term loans is gradually reduced.
Regarding mobilizing from international organizations, foreign investors all require a number of forms such as guarantee of government liability, guarantee of foreign currency conversion, etc. During the development of the PPP Law, issues This issue has been carefully considered by the Government and has not yet been incorporated into the law. Therefore, it is difficult to mobilize foreign credit sources.
According to the State Appraisal Council, the report of the Ministry of Transport shows that the total project investment is about 17,837 billion VND, a decrease of 1,779 billion VND compared to the investment under the PPP method due to the reduction of interest costs and updating the project schedule. judgment. Accordingly, this expressway has an investment rate of 154 billion VND/km, lower than the regulations of the Ministry of Construction and the Da Nang – Quang Ngai Expressway (210 billion VND/km).
Regarding the project investment capital, according to the State Appraisal Council, in the period of 2021-2025, the Ministry of Transport is expected to allocate 14,270/17,837 billion VND to the project. In which, there is 5,360 billion VND from medium-term public investment capital, 3,500 billion VND from the socio-economic recovery and development program, and 5,410 billion VND expected to come from savings from the appointment of contractors for transport projects. and concessional capital to collect fees for North-South expressway projects…
In the period 2026-2030, the Ministry of Transport plans to allocate the remaining amount to the project from the balance of medium-term public investment capital.
According to the Ministry of Transport, the ministry has just completed a draft report to submit to the Government to send to the National Assembly (QH) for approval of this project policy. Accordingly, the Ministry of Transport proposed to invest in the Bien Hoa – Vung Tau expressway with a length of 53.7 km, with the starting point at the National Highway 1 bypass route passing through Bien Hoa city; the end point intersects with National Highway 56 in Ba Ria City. In which, the section through Dong Nai province is 34.2 km long, and the section through Ba Ria-Vung Tau province is 19.5 km long.
Regarding the project progress, investment preparation takes place in 2022, site clearance in 2023, construction begins in 2023 and is basically completed in 2025.
According to the Ministry of Transport, when completed, the project will meet transportation needs, reduce load and ensure traffic safety on National Highway 51, complete and put into operation synchronously the North-South expressway and Long Thanh airport. , maximize the potential of Cai Mep – Thi Vai port. Especially creating a premise and driving force for socio-economic development of Dong Nai, Ba Ria-Vung Tau provinces in particular and the Southeast region in general.
With this expressway project, the Government is expected to assign two-thirds of the component projects to the People’s Committees of Dong Nai and Ba Ria-Vung Tau provinces as an investor, and a component project to be invested with money from the recovery fund. socio-economic recovery invested by the Ministry of Transport.
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