Updated  
January, 18 2014 10:20:00

Highway 1 to receive $141m

The Bank for Investment and Development of Viet Nam (BIDV) will provide nearly VND3 trillion (US$141 million) in loans to expand a 70-km section of National Highway 1.— Photo nld

HA NOI (VNS)  — The Bank for Investment and Development of Viet Nam (BIDV) will provide nearly VND3 trillion (US$141 million) in loans to expand a 70-km section of National Highway 1.

The loan will help upgrade the 29-km section of National Highway 1 that runs through the central province of Binh Dinh and another 40-km section connecting Binh Dinh Province's Tuy Phuoc District to central Phu Yen Province's Song Cau District.

For the 29-km expansion, BIDV committed to supply nearly VND1.4 trillion ($65 million) to the Binh Dinh BOT Joint Stock Company. The project will start from the province's Hoai Nhon District in the 2014-16 period. The loan term will be 19 years and three months.

The 40-km project, worth VND2 trillion ($94 million), would be implemented from now until 2015 with a loan term of 14 years and six months.

This is part of a VND30 trillion ($1.4 billion) credit package the bank signed early last year with the Ministry of Transport to fund the Build-Operate-Transfer project to enlarge the highway.

National Highway 1A, which is of significant importance for the country's socio-economic development and national defence, has seriously deteriorated in recent years, leading to congestion and accidents. — VNS

Send Us Your Comments:
Name:
Your E-mail address:
Title:
 

VietNamNews may edit your comments and not all emails will be published.

Highlight

Chinese drilling rig pulled out of Vietnam's waters Chinese drilling rig pulled out of Vietnam's waters

At 6:30pm on July 16, China's oil rig Haiyang Shiyou – 981 was 41 nautical miles from its previous position and out of Viet Nam's exclusive economic zone and continental shelf, about 163 nautical miles southwest of China's Hainan island, reported the Viet Nam Coast Guard High Command.  

School closed for torturing autistic students School closed for torturing autistic students

City authorities have shut down an illegal school for autistic children after it was found to be torturing its students.

Teachers question city's proposal to use e-books 1    Teachers question city's proposal to use e-books

E-books would replace printed textbooks in the first to third grades in HCM City for the upcoming schools year under a new proposal, the vice chairman of the city People's Committee Hua Ngoc Thuan has said.

Beer plant left unfinished Beer plant left unfinished

A beer plant under construction in the centre of Ha Tinh City has become a pasture for local residents to graze oxen.

Noi Bai unveils first sleeping pods Noi Bai unveils first sleeping pods

Vietnam Airlines Tourism Company (VATC ) has installed the first ever sleeping pods in Noi Bai International Airport to serve the passengers.