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National Highway No.51 has a higher traffic flow than estimated in the signed contract |
Accordingly, during the time carrying out the project, certain content of the contract such as settlement of investment costs, loan interest rates, revenue level and amount, traffic distribution flow has changed. This requires contract adjustment as to toll collection time to make profit.
After 18 discussion sessions, the Transport Ministry, the Department for Roads of Vietnam, investors, and capital sponsoring banks have yet reached a consensus on the profit to preserve equity during construction and exploitation, the consideration of profit from toll collected in the 2009-2015 period as loan during the construction time, the measures to calculate loan interest for deductions during the exploitation period, and the toll collection time to create profit.
Therefore, the Vietnam Department for Roads, authorized by the Transport Ministry, decided to temporarily stop toll collection of this BOT project.
Both the Transport Ministry and the Vietnam Department for Roads are going to work with the main investor – Bien Hoa - Vung Tau Expressway Investment and Development JSC – and related agencies to address the issue as soon as possible.
Accordingly to the appendix of the contract, signed in 2017 between the Vietnam Department for Roads and the investor, the toll collection time for the BOT project on National Highway No.51 expansion will end in January 2030. However, as the real traffic flow through the toll plaza is much higher than estimation, this time will end sooner than calculated.
