The PM decided on the final investment plan for the ambitious 1,372-km North-South expressway project, which will cost 13.6 billion USD over three phases spanning from 2017 to 2028 and beyond.
Illustration of sections of North-South Expressway. (Source: VNA)
Hanoi (VNA) – Prime Minister Nguyen Xuan Phuc has decided on the finalinvestment plan for the ambitious 1,372-km North-South expressway project,which will cost 310 trillion VND (13.6 billion USD) over three phases spanningfrom 2017 to 2028 and beyond.
The approved plan was among three plans submitted by the Ministry of Transport(MoT).
According to this plan, in the first phase 2017-2022, the PPP (public-privatepartnership) model will be used, with 55 trillion VND (2.42 billion USD)sourced from the State budget.
About 386km of the four-lane expressway will be built anew, while another 81kmwill be upgraded and expanded from two lanes to four lanes.
In the second phase, 2023-2028, 905km will be built, with an initial budget of142 trillion VND (6.24 billion USD), with State budget doling out 55 trillionVND and the rest falling upon private investors.
In the third phase, planned to be built after 2028, the entire expressway willbe completed in line with the approved master plan, with a total investment ofmore than 69 trillion VND (3 billion USD).
The North-South expressway (CT01) runs almost parallel to the existing NationalRoad 1A, from the northern mountainous province of Lang Son down to the southernmostprovince of Ca Mau, while the former starts in Hanoi city and ends in Can Thocity.
The expressway will connect multiple economic zones, industrial parks andseaports, giving a boost to socio-economic development in areas that it runsthrough, as well as alleviating traffic pressure from the main National Road1A.-VNA
More than 140 trillion VND (6.2 billion USD) will be used for the first phase construction of the North-South Expressway linking Hanoi and Ho Chi Minh City.
The North-South Expressway is an important national project, which needs Government approval before submission to the Politburo and National Assembly, stated Deputy Prime Minister Truong Hoa Binh at a recent meeting on the project.
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Illustration of sections of North-South Expressway. (Source: VNA) 
