Clarifying investment plans for 2 expressway sections managed by VEC

Noi Bai - Lao Cai Expressway, Yen Bai - Lao Cai section, has only reached the scale of 2 lanes.

Accordingly, in order to have a basis to report to the Prime Minister, the Ministry of Construction requested VEC to review and report a number of contents related to the investment plan for the Cau Gie - Ninh Binh Expressway Expansion Project and the Yen Bai - Lao Cai Section Expansion Project of the Noi Bai - Lao Cai Expressway.

Review and evaluate capital mobilization capacity

Specifically, VEC's proposal to mobilize capital for the above two expansion projects will affect VEC's ability to repay its debts. Therefore, the Ministry of Construction requests VEC to review and evaluate the ability to mobilize capital to invest in the above expressways, calculate the ability to repay the Government's ODA loans, the feasibility of the financial plan of the two projects in particular and the five projects currently managed and operated by VEC; and the consistency with the plan to increase charter capital for the period 2024-2026 approved by competent authorities.

VEC is also requested to develop an investment implementation plan for the above projects in case the competent authority approves the proposal for VEC to contribute investment capital, including the Yen Bai - Lao Cai section expansion project of the Noi Bai - Lao Cai expressway, which the Government leader requested to start construction in 2025.

On March 12, Deputy Prime Minister Tran Hong Ha requested the Ministry of Construction to preside over and coordinate with the Ministry of Finance to clarify the capital source for the Yen Bai - Lao Cai section expansion project (including the capital that VEC can mobilize), on that basis, urgently study the investment plan to expand the Yen Bai - Lao Cai expressway section in accordance with design standards and transportation needs according to the direction of the Prime Minister in Official Dispatch No. 16/CD-TTg dated February 21, 2024 on accelerating research and investment in upgrading expressways in operation and under investment according to phase 1 scale; report to the Prime Minister before March 20, 2025.

Previously, the Ministry of Transport (now the Ministry of Construction) had proposed to the Prime Minister to allow the use of increased revenue in 2024 to invest in expanding the Yen Bai - Lao Cai expressway to 4 lanes, with a total investment of about 7,500 billion VND. To facilitate the organization of construction, handover, and toll collection after investing in the Yen Bai - Lao Cai expressway, this agency proposed to assign VEC as the competent authority to implement according to Article 29 of the Public Investment Law No. 58/2024/QH15.

It is known that the Yen Bai - Lao Cai section (Km123+080 - Km244+155) has a total length of about 121 km, of which 38 km is in operation with a scale of 4 alternating lanes; the remaining 83 km needs to be expanded to a scale of 4 lanes.

Regarding the Cau Gie - Ninh Binh expressway, in March 2025, VEC also submitted a document to the Ministry of Finance for consideration and submission to the Prime Minister to assign VEC as the competent authority to implement the Cau Gie - Ninh Binh expressway expansion project according to the provisions of Article 29 of the Public Investment Law No. 58/2024/QH15 dated November 29, 2024.

According to the proposal, the Project has a starting point at Km210+000 (the starting point of the expressway) in Hanoi City, connecting the Phap Van - Cau Gie expressway; the end point is at Km260+030 on National Highway 10, the section connecting Nam Dinh - Ninh Binh with a total length of 50 km.

VEC proposed to expand the expressway from 4 lanes to 6 lanes on the roadbed, bridges, culverts... that have been built with a scale of 6 lanes with a total cost of 2,113 billion VND, of which the State budget capital is 840 billion VND (about 40% of the total investment); VEC mobilized capital is 1,273 billion VND (about 60% of the total investment) including VEC's own capital of 270 billion VND, borrowed capital of 890 billion VND, and interest during construction (expected 9%/year) of 113 billion VND.

If approved by competent authorities, VEC will prepare for investment in the Project in 2025; implement investment from 2026 to 2028, expected to start construction in the first quarter of 2026.

Phan Trang

Source: https://baochinhphu.vn/lam-ro-phuong-an-dau-tu-2-doan-tuyen-cao-toc-do-vec-quan-ly-102250325164902605.htm