The My Thuan Project Management Board submitted the project's pre-feasibility study for appraisal and approval on September 28.
The project, including approach roads, would run through Vinh Long Province and Can Tho City and be financed through public investment.
The expressway section would stretch about 15.14 km, connecting the My Thuan-Can Tho Expressway near Cha Va Interchange in Vinh Long with the Can Tho-Hau Giang Expressway at IC2 Interchange in Can Tho.
The six-lane road would have a design speed of 100 kph.
Under the proposal, Can Tho 2 Bridge would carry both road and rail traffic, with six expressway lanes on the upper deck and an electrified, double-track standard-gauge railway on the lower deck.
The railway would be designed for speeds of 120 kph for freight trains and 160 kph for passenger services.
The main cable-stayed bridge would be about 870 metres long and 30.5 metres wide, with a main span of 450 metres.
The project is estimated to cost VND 27.05 trillion, including about VND 18.97 trillion for construction and equipment and VND 2.74 trillion for compensation, support and resettlement.
Funding is expected to come from the state budget, with about 80 per cent of the investment planned for the 2026-2030 period and the remainder for the 2031-2035 period.
Under the proposed schedule, investment approval and selection of the bridge's architectural design would be completed in 2026.
Construction of the approach roads is expected to begin in the fourth quarter of 2027, while work on the main bridge is scheduled to start in the second quarter of 2028.
The entire project is expected to be completed and opened to traffic in 2031.