Photo for illustration. -- VNA/VNS Photo

HÀ NỘI – The Project Management Board number six under the Directorate for Roads of Việt Nam has asked the transport ministry to approve the construction of Nha Trang- Phan Thiết Highway.

Of the more than VNĐ27.84 trillion (US$1.24 billion) investment for the project, about VNĐ9.28 trillion ($416 million) will come from the official development assistance (ODA) and the remaining VNĐ18.55 trillion ($ 824 million) will be funded by investors under a build-operate-transfer contract.

The private investors hope to have their investment returned within 21 years, with the imposition of toll starting from VNĐ1,500 per kilometre. The toll will be increased by 12 per cent every three years.

The Nha Trang- Phan Thiết Highway, which is more than 234km long, will begin in Diên Thọ Commune in Diên Khánh District in the central Khánh Hòa Province and end in Hàm Kiệm Commune in the central Bình Thuận Province’s Hàm Thuận Nam District,.

The highway is expected to reduce the travel time to reach the central provinces of Khánh Hòa, Ninh Thuận and Bình Thuận. It will also help ensure a smooth run of the North-South Highway from Hà Nội to the south-western Cần Thơ City. – VNS