The Ministry of Transport is expected to announced invitations to tender for five component projects of the north-south expressway in the coming days to prospective investors who have passed the preliminary round.
The sections in question include National Highway 45-Nghi Son, Nghi Son-Dien Chau, Dien Chau-Bai Vot, Nha Trang-Cam Lam and Cam Lam-Vinh Hao, which will be constructed under public-private partnerships (PPP).
Bidders will have 60 days to prepare and submit their documents.
The Ministry of Transport said if the bidding process goes smoothly, contracts will be signed in December so that such projects can start as early as January next year, with completion scheduled for 2023.
The ministry stated that the key to the success of the five above projects is funding, as the selected investors will have six months to secure credit, otherwise their contracts will be cancelled.
According to the Ministry of Transport, the 654-km north-south expressway is being split into 11 component projects, including six funded from the state budget and another five under PPP.
The total cost of the 11 projects is estimated at VND100.816 trillion (US$4.33 billion), of which the government will provide VND78.461 trillion (US$3.37 billion), the rest being financed by the private sector.