Starting from 0:00 today (December 29), 41 BOT road projects (including 47 toll stations) will adjust ticket prices according to the direction of the Ministry of Transport.
Explaining the increase in ticket prices for BOT projects, a representative of the Vietnam Road Administration said that BOT projects managed by the Ministry of Transport were put into operation mainly before 2016. According to the provisions of the BOT project contract, the ticket price adjustment cycle is 3 years/time (with an increase of 6%/year). Although BOT projects have reached the time to increase ticket prices from 2019-2022, there are some projects that have gone through 2 cycles but have not yet had their ticket prices increased, affecting the financial plan and the project's ability to recover capital.
The leader of the Vietnam Road Administration said that with the increase in ticket prices at BOT toll stations , transportation fares on BOT routes will increase by about 0.2-1.4% and this adjustment is expected to have a negligible impact on the consumer price index (CPI). With this price adjustment, it is estimated that the cumulative revenue from the beginning of the project to the end of 2025, there are 26 projects that have reached more than 75% of the revenue in the financial plan in the PPP project contract.
According to the leaders of the BOT station management units, this price adjustment will not cause any disruption in ticket sales and toll collection activities. As for vehicles that have purchased monthly or quarterly tickets, they will continue to use them at the purchased price until the ticket expires. New tickets purchased after the price increase will be calculated at the new price.
Currently, the Ministry of Transport manages 54 BOT projects; in 2022, only 7 projects achieved revenue higher than the contract, 43 projects achieved 30-100% and 4 projects achieved less than 30%. In early December, the Ministry of Transport approved the adjustment of fares at BOT projects as proposed by the Vietnam Road Administration, and at the same time requested project enterprises to check and review the list of vehicle owners eligible for fare exemption and reduction and complete the adjustment procedures and make public announcements.
According to Minister of Transport Nguyen Van Thang, the BOT contract and the PPP Law stipulate that when a BOT project of an enterprise exceeds 125% of the expected revenue, the investor must share it with the State. Conversely, if the revenue falls below 75% of the expected revenue, the State must share the risk. "When the revenue is too low, the State must buy it back. This is a term and condition in the contract, not the State giving special privileges and benefits to the enterprise," Minister Nguyen Van Thang added.
(NDO)
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