Vietnam Starts $746.55M France-funded Tunnel Project after Delays

Vietnam started the Ca pass tunnel project connecting Phu Yen and Khanh Hoa provinces in central region on Nov 18 after many delays, state media reported. The VND15.6 trillion ($746.55 million) project has a total length of 13.4 km, with Ca Pass Tunnel and Co Ma Tunnel stretching 3.9 km and 500 m respectively. Once operational, it is expected to have four lanes and allow vehicles to travel at 80 kilometers per hour. It will be the third tunnel on the north-south axis road along Vietnam’s central coast.Minister of Transport Dinh La Thang at the signing ceremony of the tunnel project’s investment under the build-operate-transfer (BOT) and build-transfer (BT) format said that the project would kick start on Sept 2. But then construction was re-scheduled until last month.Earlier, France’s Credit Agricole Corporeate Corporate and Societe Generale Bank signed a memorandum of understanding (MoU) with Ca Pass Investment JSC of Vietnam, the investor of the project, to provide loans for the project.Under the Vietnamese road development system by 2020, Ca pass tunnel is expected to connect the North and South of Vietnam and contribute to boosting socio-economic development in Central Vietnam. (Vietnam News Nov 19, Cong An Nhan Dan – People’s Police Nov 19 p1, Saigon Giai Phong –Saigon Liberation Nov 19 p2)