The Asian Development Bank (ADB) has recently pledged to loan Viet Nam US$1.096 billion for the construction of the Noi Bai-Lao Cai expressway project, marking ADB's biggest loan for Viet Nam till date.
The Noi Bai-Lao Cai expressway project is under the Kunming-Hai Phong transport corridor with a total investment capital of US$1.216 billion.
Under the mandate of the prime minister, the State Bank of Vietnam (SBV)'s governor on September 26, 2008 signed ADF and OCR agreements with the representatives from ADB for this project.
Of the total loan, US$896 million of the capital will be sourced from the ADB's Ordinary Capital Resources (OCR) while US$200 million will come from the bank's concessional Asian Development Fund (ADF).
The remaining capital of US$120 million will be mobilised through bond issuance.
As planned, the first phase of the project will be finished by 2012 with a length of 245 kilometres. The second phase will be carried out from 2020 with 19 kilometres linking Kunming-Ha Khau in the mountainous northern province of Lao Cai.
As designed, the Hanoi-Yen Bai highway will have six lanes and Yen Bai-Lao Cai Highway will have four lanes with two investment phases. The total investment for the first phase will be US$770 million. (chinhphu.vn)
Friday, February 20, 2009
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