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05 April 2012

Vietnam’s authorities plan to invest in concrete roads

First publishedon www.WorldHighways.com
The highways authorities in Vietnam intend to increase the percentage of roads and highways built from concrete. A pilot project will see the construction of a 25km highway link connecting the Cau Gie-Ninh Binh and Hanoi-Haiphong expressways.

The Ministry of Planning and Investment is setting out a plan for transport project development using concrete instead of asphalt. The plan will run at least until Transport. The aim behind this strategy is to increase the longevity of road surfaces.

Meanwhile international funding worth some US$280 million is being used to help with construction of Vietnam’s new Ha Noi-Hai Phong Highway. The loans are being provided jointly by Citibank in the US and SUMITOMO Mitsui Banking in Japan and will be for a 15-year period. Work on the project commenced in 2008.

The Vietnam Development Bank is managing the financing for the highway construction project and agreed the loan arrangement following talks with Citibank and Sumitomo.

Companies in this article

Citibank
www.citigroup.com
Ministry of Planning and Investment
www.MPI.gov.vn
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