The conglomerate has submitted a proposal to the People’s Committee of Ho Chi Minh City seeking approval to study the project under a public-private partnership (PPP) model using a build-transfer (BT) contract.
According to the proposal, the project would require total investment of about VND 92.7 trillion (nearly USD 3.7 billion). The investor would mobilise all funding, including around VND 12.5 trillion in equity and approximately VND 70.9 trillion in commercial loans.
The route would run through Can Gio Commune and the Ganh Rai Bay, connecting directly to the Tam Thang, Vung Tau, and Rach Dua wards. The project would use about 137.5 hectares of land.
If approved, construction could start in the second quarter of 2026 and be completed by the first quarter of 2029.
The proposed sea route would be about 14.06 km long, designed for speeds of 80 km/h with six traffic lanes. The structure would include a 7.97-km sea bridge, a 3.1-km undersea tunnel and about 2.99 km of connecting roads.
The project would also feature two artificial islands located at the transition point between the bridge and the tunnel. The sea bridge would be about 27 metres wide, while the tunnel section would measure approximately 35.1 metres in width.
Under the proposal, the project would be divided into two components: land clearance and compensation, and construction of the sea-crossing route. The investor would cover all costs, including site clearance.
In return, the government would repay the investment through land allocation equivalent to the project’s value.
The proposed route is expected to create a direct transport corridor between Ho Chi Minh City and Vung Tau, reducing travel time to around 15-20 minutes. It could also ease traffic pressure on National Highway 51 and improve connectivity with the Cai Mep-Thi Vai Port Complex.
Officials say the project could play a key role in strengthening the transport network in Vietnam’s southeastern region and linking major infrastructure projects such as the Ben Luc-Long Thanh Expressway and the Bien Hoa-Vung Tau Expressway.
The sea route is also expected to stimulate development of coastal urban areas, the planned eco-tourism zone in Can Gio and the Long Son Industrial Zone, while boosting maritime logistics and tourism in the region.