Cooperation agreement signed for two expressways in northern Vietnam

ABO/NDO - On May 19, a consortium of investors and banks signed a cooperation agreement for the Dong Dang-Tra Linh and Huu Nghi-Chi Lang Expressways located in the provinces of Cao Bang and Lang Son.

The Dong Dang-Tra Linh Expressway will run 121 kilometres at a cost of 13,174 billion VND (568.6 million USD) while the Huu Nghi-Chi Lang Expressway will have a length of 43 kilometres at a cost of 10,000 billion VND (431.8 million USD).

The project to construct these two expressways is significant to enhancing transport links, promoting socio-economic development and improving the people’s lives in the northeastern region.

The signing ceremony for the Dong Dang-Tra Linh and Huu Nghi-Chi Lang Expressway (Photo: Tuan Linh).

VPBank is expected to provide 4,366 billion VND for the Dong Dang-Tra Linh Expressway while TPBank will arrange 3,511 billion VND for the Huu Nghi-Chi Lang project.

Cao Bang will allocate 4,080 billion USD to the Dong Dang-Tra Linh project and Lang Son will raise its funding for the Huu Nghi-Chi Lang project from 1,000 billion VND to 2,500 billion VND.

According to Cao Bang Party Secretary Tran Hong Minh, the province has a great deal of strength and potential in tourism and border economic development, but transport infrastructure is currently a bottleneck to its socio-economic development.

He pledged to accompany investors and banks to carry out the project, adding that preparations for the Dong Dang-Tra Linh Expressway have been basically completed.

For his part, Lang Son Party Secretary Nguyen Quoc Doan also promised to arrange capital and complete the site clearance to proceed with the project as soon as possible.

(Source: NDO)