Vietnam OKs to Raise Cost of ADB-funded Transport Project to VND6T
Vietnam’s Ministry of Transport has agreed to raise the total investment of the Northern Mountain Provinces Transport Connectivity Project funded by the Asian Development Bank (ADB) and the Australian government to nearly VND6.02 trillion ($250 million) from VND5.34 trillion, state media reported.
Of the sum, VND4.15 trillion is set for the construction, circa VND1.02 trillion for site clearance, VND325.8 billion for construction and investment consultancy, and VND417 billion for provisions.
The value comprises a VND4.25-trillion loan from the ADB’s Asian Development Fund, a VND144.5-billion grant from the Australian government, and a VND1.62-trillion reciprocal capital from the local government.
It includes two routes, with the first connecting Lai Chau province and Noi Bai-Lao Cai expressway and the second linking Yen Bai with the above expressway. The first route lengthens 147 kilometers, while the second stretches over 51km.
The 11-package project was kicked off and is expected to be fully completed in 2024.