The time for synchronous completion of the Ben Luc - Long Thanh expressway project was approved by the Ministry of Transport to be adjusted to September 30, 2026.
The Ministry of Transport has just issued a decision approving adjustments to the Ben Luc - Long Thanh Expressway Construction Investment Project.
A section of the Ben Luc - Long Thanh expressway has been basically completed (Photo: Ta Hai).
Accordingly, the project completion time is adjusted to September 30, 2026 instead of 2025 as previously approved.
Two other important contents were also approved for adjustment by the Ministry of Transport.
Firstly, the total investment of the project will remain the same as the value approved by the Ministry of Transport in August 2023 (nearly VND 29,600 billion), with only adjustments to some cost items.
Of which, construction costs decreased by 574 billion VND; Site clearance costs decreased by 108 billion VND; Interest expenses increased by 654 billion VND; VAT decreased by more than 56 billion VND.
Second is to adjust the capital structure. Of which, ADB loans decreased by VND980 billion; JICA loans decreased by VND875 billion; Capital arranged by Vietnam Expressway Corporation (VEC) increased by VND1,855 billion.
The adjusted capital structure also corresponds to the financial mechanism for the project. Of which, the State budget allocates more than 13,000 billion VND; Capital borrowed and arranged by VEC is nearly 16,500 billion VND.
To meet the project implementation schedule, the Ministry of Transport assigned VEC to direct contractors, consultants and related units to review items that determine the progress, establish a general and detailed schedule, and comply with legal regulations on construction investment.
"VEC must immediately implement capital allocation procedures, organize contractor selection for new packages, adjust contracts for packages according to its authority to implement construction; Coordinate with the People's Committees of provinces and cities: Ho Chi Minh City, Dong Nai and related districts/counties to completely complete site clearance work, complete the project according to the approved time.
Previously, reporting the reasons for the proposed adjustment of the implementation time of the Ben Luc - Long Thanh project, in the report to the Government dated November 18, 2024, the Ministry of Transport said that the project was approved by the Prime Minister to adjust the investment policy in Decision No. 791 dated July 3, 2023 and the Ministry of Transport approved the project adjustment in Decision No. 961 dated August 4, 2023.
The total project completion date is September 30, 2025.
During the implementation process, because the Japanese contractor did not continue to implement Package J3 (Construction of Phuoc Khanh Bridge and Approach Road), JICA agreed not to continue to finance the remaining volume of the package, VEC had to arrange capital to complete it.
Based on VEC's proposal, on August 30, 2024, the Ministry of Transport submitted a document to the Prime Minister for approval to adjust the project investment policy.
The project implementation period is proposed to be adjusted to December 31, 2025; The total investment of the project is nearly VND 29,600 billion, using loans from JICA, ADB, counterpart funds from the Government and capital arranged by VEC.
According to the Ministry of Transport, at the time the Ministry submitted the proposal to adjust the project's investment policy, the proposed completion time before December 31, 2025 was established on the basis of VEC organizing the selection of contractors in parallel with the implementation of investment policy adjustment procedures.
In fact, VEC issued the invitation to bid (E-HSMT) for package J3-1 on July 18, 2024 in the form of open domestic bidding via the National Bidding Network System. The implementation period is 13 months; the closing date for bidding is August 6, 2024.
Up to now, VEC has completed the bid evaluation, but has not been able to announce the results and negotiate and sign the contract due to waiting for approval of policy adjustments and investment project adjustments to use VEC's capital.
It is expected that the procedures for adjusting the investment policy will be completed by January 2025 and the procedures for adjusting the investment project will be completed by February 2025. On that basis, VEC will negotiate and sign a contract with the contractor to start construction in March 2025. With a construction period of 13 months, it is expected that the contractor will be able to complete the J3-1 package by April 2026.
"This is a construction package to complete Phuoc Khanh Bridge, a large cable-stayed bridge with the highest clearance in Vietnam (55m), so the construction of Vietnamese contractors may encounter difficulties.
Therefore, VEC proposed to adjust the project implementation time to September 30, 2026, 5 months more than the expected plan to accommodate unforeseen difficulties.
Adjusting the project implementation time to September 30, 2026 will also facilitate the completion of the XL-NG51 package," said the Ministry of Transport.
Source: https://www.baogiaothong.vn/dieu-chinh-thoi-gian-hoan-thanh-cao-toc-ben-luc-long-thanh-den-thang-9-2026-192250125143114559.htm
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