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Vietnam Today

PM signs off on ADB highway loan

Released at: 10:31, 15/09/2015

PM signs off on ADB highway loan

$286 million coming from ADB for Ben Luc - Long Thanh Highway in Vietnam's south.

by Tue Lam

Prime Minister Nguyen Tan Dung has approved a second loan from the Asian Development Bank (ADB) for the Ben Luc - Long Thanh Highway project. 

$286 million in loans are to come from ordinary capital resources (OCR). The Vietnam Expressway Corporation (VEC) is the owner of the project.  

The Prime Minister asked the Ministry of Transport to direct the investor to accelerate project progress so its timetable will be met.

The Ben Luc - Long Thanh Highway stretches 57.1 km in length, passing through Long An province, Ho Chi Minh City, and Dong Nai province. It is a key national project in the North - South Highway, expected to be open to traffic in the second quarter of 2019.

The project will significantly bolster socio-economic development in the southern region, facilitating investment attraction and tourism in Ho Chi Minh City, Long An, and Dong Nai. 

Upon completion the highway will connect traffic in the Mekong Delta and southern provinces, largely bypassing Ho Chi Minh City. It will connect to the Cai Mep - Thi Vai road network and the Sao Mai - Ben Dinh seaport network, simplifying the transport of goods. 

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