|Workers conduct construction work on the HCM Highway. The transport ministry has started constructing the section extending from Ha Noi's Soc Son District to the northern Phu Tho province's Tam Nong District. — VNA/VNS Photo Cao Nguyen
PHU THO (VNS) — The transport ministry on Sunday started constructing an HCM Highway section, extending from Highway 2 in Ha Noi's Soc Son District to the northern Phu Tho province's Tam Nong District.
On the same day, the ministry also started the upgradation of Highway 32 that passes through Tam Nong District.
The construction work was conducted on a build, operate and transfer (BOT) basis.
Experts from the ministry said it was necessary to complete Highways 2 and 32 to use the State budget effectively and gradually complete the HCM Highway. It will also help socio-economic development and ensure national defence security in Phu Tho Province.
The project has a total funding of VND91.1 trillion (US$52.8 million) and is expected to be completed next year.
The project's investors are the Hung Thang investment joint-stock company and Tasco joint-stock company. The highway will have a speed limit of 80km per hour.
To gain return on investment, a toll booth will be built on Highway 32 that will start collecting toll from the beginning of 2017.
The HCM Highway, which will run from the northern-most province of Cao Bang to the southern-most province of Ca Mau, is expected to be completed in 2020. — VNS