|Stretch of the Pháp Vân-Cầu Giẽ expressway. — Photo dantri.com.vn|Viet Nam News
HÀ NỘI — The Ministry of Transport has agreed to a proposal to reduce toll fare at Build-Transfer-Operate (BOT) tolls stations on the Pháp Vân-Cầu Giẽ Expressway by 25 per cent.
The proposal was made by the Directorate for Roads of Việt Nam and expressway investor Phương Thành Transport Construction and Investment Joint Stock Company. They explained that the proposal was made following an increase in the number of vehicles on the route, which led to high turnover.
Fee reduction will be applied for all types of fares on the expressway, a key route south of Hà Nội, from October 15.
At present, the rate for cars is between VNĐ45,000-180,000 (US$2-8), depending on the kind of vehicle.
Phạm Văn Khôi, CEO of Phương Thành Transport Construction and Investment Joint Stock Company, told Dân trí online newspaper that the reduction was aimed at ensuring the harmonisation of interests between business and transport participants, as well as to fall in line with Government policy.
According to the plan submitted to the transport ministry, toll fee on the route will increase from 2021 at a rate of 18 per cent. It will then increase 18 per cent every three years.
The BOT project began collecting toll fee from October 2015. It is expected to collect enough money to gets its investment capital back in 17 years. — VNS