The Commission for the Management of State Capital at Enterprises sought the opinions of the Ministry of Finance, the Ministry of Planning and Investment, the Ministry of Justice, the Ministry of Transport, and the State Bank of Vietnam.
It proposed the Government consider, approve, and submit a report to the National Assembly, allowing the Vietnam Expressway Development Investment Corporation (VEC) to apply for a loan against Government bonds of VND15,030 billion for a period of 15 years, equivalent to 100 percent of the total investment for the expansion of a section of the Ho Chi Minh City-Long Thanh expressway, excluding interest during the construction period.
The principal amount of a loan will be repaid in a lump sum on the maturity date, while the interest will be paid annually. According to VEC, the project's capital recovery period is 18 years.
The expansion project of the 21.92 km section of the Ho Chi Minh City-Long Thanh expressway will widen the road to 8-10 lanes from its current four.
