Update: 18:27 | 14/07/2019
Fifty-one investors have been selected in the preliminary bidding for seven public-private partnership (PPP) projects for the North-South Expressway.
The chosen investors are from individual companies as well as joint ventures between local and foreign businesses. The Mai Son-Highway No 45 project has 11 investors, according to the Department of Public-Private Partnership.
The North-South Expressway attracts many investors.
The section of Highway No 45-Nghi Son project, which covers 43km, with investment of more than 6.3 trillion VND (260 million USD), has five investors.
The Nghi Son-Dien Chau project which covers 50km, with investment of more than 8.3 trillion VND, has six investors.
Ten investors have been selected for the next bidding round for the Dien Chau-Bai Vot stretch.
Investors have also been chosen for the Nha Trang-Cam Lam project, Cam Lam-Vinh Hao project and Vinh Hao-Phan Thiet project.
The bidding application for the Phan Thiet-Dau Giay section opened on July 13 morning.
The section covers 99km, with investment of more than 14.3 million VND, including more than 2.4 trillion VND from the State budget.
The Ministry of Transport will evaluate preliminary bidding results in September and issue bidding documents from October 2019 to January 2020.
The ministry will evaluate bidding documents in January and February and approve the investor selection in March.
The North-South Expressway covers 2,109km, extending from the northern mountainous Lang Son province to the southern province of Ca Mau.
Once it is completed, it is expected to become the key route connecting traffic in the entire country.
A number of sections covering 601km are under construction.
Eleven more sections in the 2017-2021 period received investment of about 118.7 trillion VND, including 55 trillion VND from the State budget.
The three sections fully funded by the State budget are Cao Bo-Mai Son (15km), Cam Lo-La Son (98km) and My Thuan Bridge (7km).
Investors of Build-Operate-Transfer projects are allowed to collect toll fees, starting at 1,500 VND per km per car under 12 seats. The toll can be increased once every three years until it reaches 3,400 VND per km per car.