Project building Ha Long - Van Don Expressway and upgrading National Highway 18 licensed by provincial authorities.
The Chairman of the Quang Ninh Provincial People’s Committee Nguyen Duc Long presented an investment license on May 18 to a project building the Ha Long - Van Don Expressway and upgrading National Highway No. 18 on the Ha Long - Mong Duong stretch, being conducted under the build-operate-transfer (BOT) mode with total investment of VND14 trillion ($669.7 million).
The investors are the Cong Thanh Construction and Investment Joint Stock Company and the Phuong Thanh Construction and Investment Joint Stock Company, with capital of VND10 trillion ($468 million), while State budget funds and bank loans total VND4 trillion ($201.7 million).
The total length of the expressway is 60 km with four lanes and a top speed of 100 km/h, while the upgrades are on more than 33 km of roadway. The project is expected to be finished within 29 months.
“The project is of large scale, building provincial infrastructure to contribute to socio-economic development in Quang Ninh,” said Mr. Long.
He also confirmed that the provincial government would support the investors to ensure the construction schedule stayed on track, and asked the investors to prepare a construction plan for submission to the People’s Committee.
The People’s Committee has officially established a management board for the project, headed by Mr. Long.