Quang Ninh grants investment license for new highway
Authorities in the northern province of Quang Ninh on May 18 handed over an investment license to the Cong Thanh and Phuong Thanh transport construction investment joint stock companies, which will work together on the construction of the Ha Long-Van Don highway in the locality.
Authorities in the northern province of Quang Ninh on May 18 handed overan investment license to the Cong Thanh and Phuong Thanh transportconstruction investment joint stock companies, which will work togetheron the construction of the Ha Long-Van Don highway in the locality.
The60 kilometre, four-lane highway will be built using the BOT(build-operate-transfer) model with an investment capital of 14trillion VND (644 million USD). It will connect Hanoi, the northern portcity of Hai Phong and Quang Ninh province.
The newhighway is also expected to reduce the volume of traffic on NationalRoad 18, which itself will have a section upgraded, and shortentravelling time from Hanoi to Ha Long city and Van Don district’sEconomic Zone. This is expected to encourage further investmentactivities and socio-economic development in Quang Ninh and key northernareas.
Construction on the project is scheduled to be completed over 29 months.-VNA
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