|An expressway from HCM City to Trung Luong. Investors in a long-delayed major southwestern highway project have been warned by the Ministry of Transport to speed up the project. — Photo baodatviet.vn
HCM CITY (VNS) — Investors in a long-delayed major southwestern highway project have been warned by the Ministry of Transport to speed up the project.
All of the parties involved in the project have failed to meet targets on capital and land acquisition for the Trung Luong - My Thuan expressway project, according to Deputy Minister of Transport Nguyen Van The, who spoke at a meeting in HCM City this week to review the project.
The investors include the Cuu Long Corporation for Investment Development and Project Management of Infrastructure (Cuu Long CIPM), the project management unit, and Trung Luong - My Thuan Build-Operate-Transfer (BOT) Company.
The also criticised the Tien Giang Department of Transport for delays in implementation.
The Cuu Long CIPM has yet to complete legal procedures, funding arrangements, selection of contractors, technical design and site clearance, according to The.
However, Nguyen Ngoc Toan, the deputy general director of Cuu Long CIPM, said that more than 91 per cent of the project's capital targets had been reached.
The corporation is also working with local authorities on site clearance, he said.
Authorities of Tien Giang Province, which the highway traverses, are also working on land clearance for the project and compensation for affected households.
The ministry has ordered the Cuu Long CIPM and Trung Luong - My Thuan BOT Company to urgently complete site clearance by the year-end.
If not, the ministry will consider replacing the project management unit.
Trung Luong - My Thuan expressway was designed to start at Than Cuu Nghia T-Junction near the end of the HCM City - Trung Luong Expressway and end at the crossroads with National Highway 30 near My Thuan Bridge.
The expressway was designed to have a total length of 51.1 kilometres plus 4.5 kilometres of approach roads. Costs are estimated at VND14.6 trillion ($648.8 million).
The expressway, scheduled to be completed in late 2018, will run through the town of Cai Lay and the districts of Chau Thanh, Cai Lay, Cai Be and Tan Phuoc in Tien Giang Province.
In November 2009, construction on the highway began by the Expressway Investment Development Joint Stock Company under the state-owned Bank for Investment and Development of Vietnam (BIDV).
But work was suspended because the investor faced capital constraints.
Work resumed in February this year after the investors involved in the project established the Trung Luong - My Thuan BOT Company.
The warning was the second issued by the Transport Ministry. On August 26, the ministry held a meeting to urge all involved parties to speed up the project. — VNS