An illustrative photo of an expressway project similar to the proposed Gia Nghĩa-Bảo Lộc-Phan Thiết route. — VNA/VNS Photo

HCM CITY — A consortium of Vietnamese companies has asked the Prime Minister to endorse a major expressway connecting the Central Highlands with Việt Nam’s south-central coast while requesting state funding equal to 70 per cent of total investment, far above the current legal ceiling for public-private-partnership (PPP) transport projects.

Under existing rules, state participation in PPP expressways is capped at 50 per cent.

But the investors argued the proposed Gia Nghĩa-Bảo Lộc-Phan Thiết Expressway runs through economically disadvantaged areas with low expected traffic volumes, making cost recovery via tolls difficult without higher public funding.

The consortium estimates the 140.6km expressway will cost VNĐ36.3 trillion (US$1.45 billion).

It is seeking a state contribution of VNĐ25.4 trillion, with the remaining VNĐ11 trillion to be raised through bank loans and investor equity. The payback period is projected at 20 years.

The investors have also asked the Government to incorporate the project into Việt Nam’s 2021-2030 national road network master plan and authorise implementation in the 2026-2030 period.

They proposed that the Lâm Đồng Provincial People’s Committee act as the project’s authorised state agency, while the Ministry of Finance allocates public investment capital for the next planning cycle.

The consortium requested permission to prepare project documentation, pledging to deploy experienced staff and qualified consultants to deliver both pre-feasibility and feasibility studies.

According to the Lâm Đồng Department of Construction, the expressway would pass through numerous communes and wards in Bình Thuận and Lâm Đồng provinces, including Bình Thuận, Hàm Thạnh, Đông Giang, La Dạ, Hòa Bắc, Hòa Ninh, Bảo Lâm 1, Bảo Lâm 2, Bảo Lâm 4, Quảng Khê, Bắc Gia Nghĩa and Trường Xuân.

The route would start at the Vĩnh Hảo-Phan Thiết Expressway in Bình Thuận Province, include a branch into central Phan Thiết, and end at the planned Buôn Ma Thuột-Gia Nghĩa Expressway.

It would also connect to Gia Nghĩa City via National Highway 14.

Designed for speeds of 100-120 km/h, the four-lane road would have a foundation width of 24.75m and meet national expressway technical standards.

Provincial authorities say the project would sharply reduce travel times between the south-central coast and the Central Highlands, ease congestion on National Highways 20 and 28, and improve links with existing expressways such as Dầu Giây-Liên Khương and Vĩnh Hảo-Phan Thiết.

Officials also envision the route as a “scenic expressway,” integrating transport development with tourism growth and new economic corridors.

The proposal follows a June working session with General Secretary Tô Lâm, during which leaders of Lâm Đồng, Bình Thuận and Đắk Nông urged the Government to add the project to national planning.

The Ministry of Construction later voiced support and said it would consider incorporating the route into the 2021-2030 national road infrastructure plan.

Lâm Đồng Province and the Ministry of Construction are now completing the procedures needed to formally add the Gia Nghĩa-Bảo Lộc-Phan Thiết Expressway to the master plan. — VNS