A number of foreign investors including those from South Korea, France and Japan have expressed their interest in the North-South Expressway project, which spans more than 1,000 kilometers in Vietnam.
Illustrative photo by Huy Hung/VNA
The Ministry of Transport issued the preliminary documents for bidding on the North-South Expressway of the section of national highway 45-Nghi Son on May 8, VNA cited Cao Viet Hung, a ministry official.
The documents include procedures for evaluation of applications and summary reports of the project.
The preliminary evaluation will last 60 days from May 5 to July 8.
According to economist Ngo Tri Long, stricter capital and experience requirement in bidding might wall up the chance for domestic investors, however, it would help the project avoid the errors of previous National Highway 1 expansion project.
The project will be implemented through the public-private partnership (PPP) format.
According to the ministry, this stretch of the expressway is 43km in length with a total investment of VND6.3 trillion (US$208 million), in which, about VND2 trillion (US$86 billion) are sourced from state budget and the rest is mobilized from private resources.
The coastal North-South Expressway construction in the 2017-2020 period approved by National Assembly is 654km in length with the total investment of VND118.716 trillion (US$5.1 billion), with VND55 trillion (US$2.4 billion) coming from state funding and VND63.71 trillion (US$2.7 billion) mobilized from non-state sources.
The project comprises of 11 components including three state-invested projects and eight PPP invested projects.