The Government commits sufficient capital to the Trung Luong-My Thuan Expressway Project

ABO - It is the opinion of the Politburo member and Deputy Prime Minister Vuong Dinh Hue at the working session with Tien Giang province, on August 27. Deputy Prime Minister said that the current problem of the project is capital. Investors are assured, the Government has committed to allocate 2,186 billion VND to the project, the matter is still a procedure; The Ministry of Finance has now sent documents to the Standing Committee of the National Assembly and is awaiting approval at the next National Assembly session.

Regarding the capital of investors meeting 3,400 billion VND, reaching 27% is quite high, the sponsoring banks should arrange credit contract negotiation right now to keep the rate of progress. Leaders of Tien Hiang province, investors have committed to ensure progress; The Ministry of Transport needs technical assistance to Tien Giang province and investors to complete the project as directed by the Prime Minister.
Earlier, Trung Luong - My Thuan BOT Joint Stock Company proposed that the Government continue to have opinions with the National Assembly Standing Committee to disburse 2,186 billion VND of state budget for the project. On the occasion that this capital has not been approved by the National Assembly or cannot be disbursed in 2019, it will allow investors to pause, to renegotiate the project completion time.

At the same time, it is suggested that the focal bank Vietinbank determine the guarantee of sufficient capital for the project when assessing the loan, the time to complete the loan appraisal, the required disbursement conditions when signing a credit contract to investors and Tien Giang province continue to clarify.

In a speech about the Trung Luong - My Thuan Expressway Project, Chairman of the Tien Giang provincial People's Committee Le Van Huong said that about the site clearance, only 6 households in the project have not yet received compensation money; and Tien Giang province will try together with investors and sponsors to sign credit contracts in September 2019. Committing to the Deputy Prime Minister, Tien Giang province will work with Trung Luong - My Thuan BOT Joint Stock Company to make efforts to ensure the progress of the project, striving to clear the route by the end of 2020 under the direction of the Prime Minister.

After the working session with Tien Giang province, Deputy Prime Minister Vuong Dinh Hue surveyed the Trung Luong - My Thuan expressway project at the provincial intersection 878.

These are some photos of Deputy Prime Minister Vuong Dinh Hue on the afternoon work of August 27: