On June 5, in Hanoi, the Directorate for Roads of Vietnam (DRVN) signed a contract with the consortium of Truong Hai-Son Hai Transport Infrastructure Development for the implementation of the construction project.
This is the first project in which the Ministry of Transport has organized a bidding process to select an investor in accordance with the Law on Public-Private Partnerships (PPP). It also marks the first time the Ministry has delegated and authorized the Directorate for Roads of Vietnam to directly sign a contract with the investor and the project enterprise.
The project has a total investment of over VND8.4 trillion (over US$322 million), with more than VND7.1 trillion (roughly US$272 million) mobilized by the investor. The state will contribute around VND1.3 trillion (nearly US$50 million) for land clearance. The construction is expected to last approximately 24 months, followed by an operational and toll collection period of 16 years and 11 months.
