The project to build the 34.42km road has a total investment capital of over VND3.87 trillion (USD166.4 million), with VND1.1 trillion from the State budget. Meanwhile, capital mobilised from the local budget and other sources is VND1.59 trillion, while investors contribute VND1.28 trillion under the build-operate-transfer (BOT) model.
PM Nguyen Xuan Phuc attends the ground-breaking ceremony of the project on February 14
The project is expected to serve key projects such as the Thai Binh economic zone, Ninh Binh-Hai Phong-Quang Ninh expressway, Diem Dien Port, Thai Binh Electricity Centre and industrial clusters in Thien Hai and Thai Thuy districts.
It also connects Nam Dinh and Thai Binh provinces with Cat Bi International Airport in the northern port city of Hai Phong, and seaports in Quang Ninh and Hai Phong.
Through BOT stations, the investor is expected to recover the capital within 23 years and three months, starting from 2022.
The route has 12 bridges, including five cross the rivers namely Tra Ly, Red River, Dien Ho, Lan 1 and Lan 2.
The government leader has also urged the Ministry of Planning and Investment and the Ministry of Transport to quickly arrange capital to ensure the project pace.
