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Gov’t seeks OK on highway, airport

Update: October, 28/2016 - 10:34
The North-South high-speed railway project is expected to be built in the 2020-30 period and will become operational by 2050. — Photo

HÀ NỘI — The Government has asked the National Assembly to consider a number of projects with a total investment capital of more than US$66 billion.

The projects include the North-South Highway, the Long Thành International Airport and an electricity infrastructure project.

The four-lane North-South Highway, running from Hà Nội to HCM City, is designed to be 1,373km long and is being divided into 20 smaller projects.

The Government will focus on a pre-feasibility study report in the 2016-20 period. It’s expected to be built in the 2020-30 period and will become operational by 2050.

According to Vietnamnet, the project is expected to cost VNĐ222.8 trillion ($9.97 billion), of which, VNĐ136.28 trillion is to be mobilised from the private sector, while the remainder, used for site clearance and consulting will come from the State budget.

In the 2016-20 period, the project expects to use VNĐ70 trillion of Government bonds as the State’s capital contribution.

The Long Thành International Airport in southern Việt Nam is planned to receive 100 million passengers per year with an estimated capital investment of $16.3 billion.

Of the sum, some $5.9 billion will be invested in the first phase, which includes a runway, a terminal with a yearly capacity of 25 million passengers, and 1.2 million tonnes of goods.

The Government has also asked the National Assembly to approve a VNĐ858.66 trillion ($38.4 billion) electricity infrastructure project, with 75 per cent for developing power resources and 25 per cent for the power network. The Government hopes to receive some VNĐ100 trillion from foreign investment capital, VNĐ200 trillion from Official Development Assistance capital, VNĐ4 trillion from the State budget and VNĐ554.6 trillion from the project’s investors and commercial loans. — VNS

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