Lam Dong Vice Chairman Nguyen Hong Hai on August 24 instructed the provincial Department of Finance to study and prepare responses to investors interested in researching and implementing the proposed Phan Thiet-Bao Loc-Gia Nghia Expressway project.
A section of the Lien Khuong - Prenn Expressway in Lam Dong Province (Photo: Minh Hau).
According to local authorities, the proposed expressway would begin at the Vinh Hao-Phan Thiet Expressway and connect with the North-South Expressway at its endpoint. The project is considered one of Lam Dong's key infrastructure developments for the 2025-2030 period.
The route would extend approximately 143km and be designed with four lanes and operating speeds ranging from 80km/h to 120km/h.
National Highway 28B links Phan Thiet with Duc Trong area in Lam Dong Province (Photo: Minh Hau).
The Lam Dong Department of Finance estimates that the project will require around 1,295 hectares of land and cost nearly VND 55 trillion (about USD 2.1 billion).
Of the total investment, almost VND 39 trillion (about USD 1.49 billion) is earmarked for construction costs, while more than VND 7.8 trillion (about USD 299 million) would be allocated for land acquisition and site clearance.
The department said that given the scale of the investment and limited state budget resources, a fully publicly funded model is not considered feasible. As a result, authorities view implementation under a public-private partnership (PPP) model as the most suitable option under current conditions.
Two investors have expressed interest in the project: the Trung Nam-INDEL CORP-Trung Nam E&C consortium and To Thuong Construction Group Co Ltd.
The Trung Nam-INDEL CORP-Trung Nam E&C consortium has proposed being assigned to prepare the project's pre-feasibility study report.