MOC affirmed this in its document to the Government Office following Deputy Prime Minister Hoang Trung Hai’s request to clarify responsibility for the sharp increase in the Chinese ODA-funded project’s estimates.
The Vietnam Railway Department would act as the investor of the project, and a Chinese company was chosen as the EPC (engineering, procurement, construction) contractor.
Dr Nguyen Dinh Tham from Hanoi Civil Engineering University affirmed that current laws do not allow for an adjustment of investment capital in projects. Citing the Construction Law, Tham said projects must be examined again from the very beginning if the newly proposed cost is more than 10 percent higher than the initial estimate.
