>> Transportation infrastructure in desperate need of capital
>> Ministry of Transport admits many projects deteriorate quickly
>> Road projects lack sufficient funding from state budget
The Ministry of Transport is seeking the prime minister’s approval to add VND6.8-trillion (USD3.3 billion) into its sluggish projects.
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| So far this year, the Ministry of Transport has halted 75 projects due to capital shortages |
The funding is expected to accelerate the pace of implementation for projects which are scheduled for completion this year.
According to the Ministry of Transport (MoT), so far this year, 75 projects were halted due to capital shortages, which total VND1.422 trillion (USD68.93 million).
Most of the projects are in the provinces of Cao Bang, Phu Tho, Vinh Phuc, Ninh Binh, Thanh Hoa, Nghe An and Ca Mau, including expanded National Highway 1A, Ho Chi Minh Highway, Hanoi-Lao Cai Expressway and Quan Lo-Phung Hiep National Highway.
According to Han Thanh Thao, Senior Official of the MoT\'s Planning and Investment Department, the capital demand for projects directly managed by the ministry is estimated at VND472 trillion (USD22.9 billion) for the period between 2011 and 2015.
Thao said that of the sum, around VND210 trillion (USD10.2 billion) is expected to come from the state budget and VND162 trillion (USD7.86 billion) would be raised from private sources. But the ministry has not yet identified sources for the remaining VND100 trillion (USD4.79 billion), she noted.