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ADB funds for construction of Ben Luc-Long Thanh expressway

Hoang Trung Hai, deputy prime minister has lately approved the negotiation results about the capital-lending agreement for the project of Greater Mekong Sub-region expressway construction project, from Ben Luc to Long Thanh for the first lending period. The Asian Development Bank will be the lender of this loan.

The deputy prime minister authorised the governor of State Bank of Vietnam (SBV) for signing the lending agreement, framework funding agreement and the funding request-the first time with ADB’s representative.

The Ben Luc-Long Thanh expressway project has total length of 57.8 kilometres, running through Long An province’s districts of Ben Luc, Can Giuoc; HCM City’s districts of Binh Chanh, Nha Be, Can Gio and Nhon Trach Dist, Long Thanh Dist in Dong Nai province.

The expressway will be built under expressway standard Level A, with eight lanes and designed speed for vehicles of 120km/h.

In related news, on December 13, 2010, deputy prime minister Hoang Trung Hai also agreed to extend the account closing date for two credit development agreements of Agreement Cr.3448-VN and Agreement Cr.3448-1-VN for project of Upgrading National Highway No 1-the third phase, funder by World Bank until December 31, 2011.

From VietNamBusiness

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