The project is expected to begin preparation in 2025, with construction and completion slated for the period between 2026 and 2030.
According to the proposal, the Quy Nhon - Pleiku Expressway will span 123 km, with 37.4 km in Binh Dinh Province and 85.6 km in Gia Lai Province. The expressway will feature four lanes, with a design speed of 100 km/h. However, sections passing through the An Khe and Mang Yang tunnels, which have difficult terrain, will have a design speed of 80 km/h. The total estimated investment is approximately VND36.59 trillion, with VND3.73 trillion allocated for land clearance. The investment cost (excluding land clearance) is about VND267 billion per kilometer.
Compared to the per-kilometer investment cost published by the Ministry of Construction (VND187.24 billion/km for a four-lane expressway), the Quy Nhon - Pleiku Expressway project has a higher investment cost, approximately VND80 billion/km more. This increase is due to the significant amount of bridge and tunnel infrastructure, especially the An Khe and Mang Yang tunnels, which span about 5 km (with an estimated investment of VND4.8 trillion). In addition, the bridges leading to the tunnels, around 8 km in length, will feature towers over 50 meters tall, with an investment cost of around VND6.2 trillion.
The project was initially studied under a Public-Private Partnership (PPP) investment model. However, given that the maximum government contribution is limited to 50 percen of the total investment under the current PPP law, the project does not meet the required financial viability. Even with the recent amendments to the PPP law, which were approved by the National Assembly, the financial effectiveness of the project remains low, with a long payback period exceeding 25 years, making it challenging to attract investors and secure funding.
In response to feedback from local authorities, the Ministry of Transport recommends that the Government approve the shift from the PPP model to public investment for the Quy Nhon - Pleiku Expressway project and entrust the Ministry to oversee the project and work with the People's Committees of Gia Lai and Binh Dinh provinces to prepare a pre-feasibility report for submission to the relevant authorities for approval.
