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Cuu Long proposes to construct $288-million expressway

Update: June, 26/2015 - 15:02
The My Thuan – Can Tho Expressway is one of three major parts of the HCM City- Can Tho Expressway. — Photo vietnamplus.vn

HA NOI (VNS) — Cuu Long Corporation for Investment, Development and Management of Infrastructure Project has proposed the construction of the My Thuan- Can Tho Expressway on a build-operate-transfer basis.

The firm has sent the proposal to the transport ministry.

The VND6.3 trillion (US$288.8 million) expressway will be 17m wide and 23.2km long, stretching from Tan Ngai Commune in the southern Vinh Long City to Thuan An Commune in Binh Minh District, Vinh Long Province.

The construction work of the expressway is expected to start in the fourth quarter of this year and be completed by 2018.

The corporation also proposes to collect toll fee of VND1,500 per kilometre per vehicle from 2019. The fee will be raised by 18 per cent after three years.

The corporation said part of toll taxes collected from vehicles using the HCM City – Trung Luong Expressway over four years and four months will be used to fund the My Thuan – Can Tho Expressway, so that the investor of the latter expressway can get a return on investment after 23 years.

The My Thuan – Can Tho Expressway is one of three major parts of the HCM City- Can Tho Expressway.

The first part, the 40km-long HCM City- Trung Luong Expressway, opened in February 2010. The second part, the Trung Luong – My Thuan Expressway, is under construction. — VNS

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