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09 November 2017

Vietnam highway project receiving South Korean funding?

First published03/11/2017

Vietnam’s Belt Road Three project is being planned at present, with some of the financing still being sought. The route will run between Tan Van District and Nhon Trach District, crossing the Dong Nai River. The project is expected to cost US$2.46 billion to construct and will feature four lanes initially, with additional lanes being built in future phases. The 89.3km route has been approved and runs through the provinces of Binh Duong, Dong Nai and Long An, as well as through the outskirts of Ho Chi Minh City. A portion of the necessary funding has been secured from the Asian Development Bank (ADB) and this will pay for a 47km stretch of the route. This particular section lies between National Road 22 and Long An Province's Ben Luc District, as well as from Binh Duong Province's Thuan An District to National Road 22 in Ho Chi Minh City's Hoc Mon District. The plan calls for South Korean funding to finance work to an 8.7km section of the project. The Belt Road Three project is also benefiting from funding being supplied through the build-operate-transfer model.

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