Needed highways carry 60 billion USD price tag

20/02/2008 -- 11:19 AM

Ha Noi (VNA) – The Ministry of Transport has proposed to the Government a plan to undertake a series of highway construction projects with a total length of 6,000 km and a total investment of 60 billion USD. Deputy Minister of Transport Tran Doan Tho announced the proposal at a signing ceremony for a cooperation agreement to develop highways between the Viet Nam Express Development Company and the Global Petro Commercial Joint Stock Bank (GP Bank) last Saturday. At the signing ceremony, the two sides agreed to implement the agreement in two steps: first, to prepare an investment project to submit to the Government, and second, to establish a Build-Operate-Transfer Company to invest in the project. An immediate target of the cooperation agreement is to complete the design and planning of the Cau Gie road in the northern province of Ninh Binh and invest in its section linking Ninh Binh with the central province of Thanh Hoa and Vinh City in the central province of Nghe An. Do Van Hau, deputy chairman of the National Oil and Gas Group, said the cooperation agreement signed between the two sides ushered in a new stage in the development of highways in Viet Nam . The National Oil and Gas Group has an income of more than 200 trillion VND (12.5 billion USD) a year and is a strategic stockholder in GP Bank. General Director of the Viet Nam Express Development Company Tran Xuan Sanh said the company had invested 2.5 billion USD in building 369 km of highways, including the Cau Gie-Ninh Binh, Noi Bai – Lao Cai and HCM City – Dau Giay projects.-Enditem
Send this page	Print

Cruise line brings 1,850 foreigners to Thua Thien-Hue (20/02/2008)

70 million USD steel ingot project licensed in Hai Phong (19/02/2008)

Vietnamese, French post groups to offer Direct Mail (19/02/2008)

Asia continues to play core in Viet Nam’s exports (19/02/2008)

Share slump stimulates purchase by investors (19/02/2008)

Finland’s leading businesses eye Vietnamese market (19/02/2008)

Seafood producers to attend Gulf food fair (19/02/2008)

Woodwork exports to fetch 3 billion USD in 2008 (19/02/2008)

Italy’s businesses interested in cooperation with Viet Nam (19/02/2008)

Viet Nam pours 600 mln USD into projects in Laos (19/02/2008)