Converted to public investment, the Nghi Son – Dien Chau expressway decreased by more than 1,000 billion VND

Project Management Unit 6 – PMU 6 has just submitted to the Ministry of Transport for consideration, appraisal and approval for the adjustment of investment project of construction investment project of Nghi Son – Dien Chau section of construction projects Expressway section on the North – South East route in the period of 2017 – 2020.

Converted to public investment, the Nghi Son – Dien Chau expressway decreased by more than 1,000 billion VND

Construction of the North-South expressway in the East of the section passing Thanh Hoa.

Accordingly, the project will be invested by the State Budget with the total investment of the phasing phase is 7,286.58 billion VND, of which construction and equipment cost is 4,305.89 billion VND; site clearance cost is 1,778 billion dong; cost of project management, consultancy is 594 billion VND; contingency cost is 653 billion. The proposed project is to start this year, basically completed in 2022 and completed and handed over in 2023.

Compared with the investment plan in the form of PPP approved in Decision No. 2318/2018 of the Minister of Transport, the total investment under the plan using public investment capital decreased by about 1,090 billion VND, mainly due to reduce interest expenses during construction phase. Project investment scale is basically the same as in Decision 2318.

Specifically, the project will build 50 km of expressways, in a phase of investment phase with 4 lanes, speed 80km / h with the starting point (Km380 + 000) behind the intersection with Nghi Son – Bai road. Trành (coincides with the end point of the project on the construction of the National Highway 45 – Nghi Son section), located in Tinh Gia district, Thanh Hoa province; the end point (Km 430 + 000) behind the intersection with National Highway 7 (coinciding with the starting point of the construction investment project of Dien Chau – Bai Vot section), belongs to Dien Chau district, Nghe An province.

It is known that component projects on the North – South East Expressway are applying many specific mechanisms to limit risks for investors and credit institutions. However, the implementation of the projects encountered a number of difficulties and problems and depended on market factors, especially the ability to mobilize credit capital to implement the project.

The Government and the Ministry of Transport held working sessions with the State Bank of Vietnam and related ministries and agencies on solutions to solving problems in credit mobilization for projects, but providing The credit must comply with the current commercial mechanism, banks consider and decide to give loans on the basis of project effectiveness evaluation, debt repayment ability of customers and ability to balance credit sources. credit institutions.

In fact, the construction investment component project of Nghi Son – Dien Chau section is one of two component projects that cannot be selected for investors. The Ministry of Transport approves the bid cancellation and reports to the Government. In Document No. 610/2020, the Government has reported to the National Assembly Standing Committee to consider the decision to convert the project investment form to public investment.

On February 4, the National Assembly issued Resolution No. 1213 on the conversion of the investment method for two component projects of National Road 45 – Nghi Son and Nghi Son – Dien Chau under the project to build a number of high road sections. expressway on the North – South East route for the period 2017-2020.

According to PMU 6, the transformation of the investment method to public investment will promote the disbursement of public investment capital, promote production, supply construction materials for projects, solve jobs and income sources. For laborers, especially domestic enterprises will directly construct projects … contributing to promoting economic growth.

In terms of investment efficiency, the project reduces the total investment due to the reduction of interest costs in the construction phase, the issuance of Government bonds to implement public investment in the current period will be very effective due to the interest rate. Government bond issuance is much lower than credit capital mobilization interest rate. On the other hand, after the project is completed, the Government will develop a suitable plan to recover state capital (similar to the mechanism for 6 public investment projects approved by the National Assembly in Resolution 52 / 2017 / QH14 and Resolution No. 117/2020 / QH14). This mechanism will create a source of revenue for the State budget, serving the needs of infrastructure development in the next phases.

Source: – Translated by

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