(LSO) - Up to now, Bac Giang - Lang Son expressway project component I, section Bac Giang - Chi Lang with the length of 64 km has been basically completed. However, the section from Chi Lang to Huu Nghi of component II with a length of 43 km has not been implemented due to some difficulties in mobilizing resources.
In May 2018, the Prime Minister issued Official Letter No. 858/TTg-CN on the implementation of Bac Giang - Lang Son expressway project and added Huu Nghi - Chi Lang section in the form of BOT contract. Accordingly, component II section Chi Lang - Huu Nghi expressway project 43 km has total investment of more than VND 8,300 billion. The investor implementing both components is Deo Ca Group.
Component 1 of Bac Giang - Lang Son expressway, section Bac Giang - Chi Lang city, 64 km long, basically completed the construction.
To proactively implement component 2, right in 2018, the investor coordinated with related departments of the province to complete the legal documents as well as deploy measurement and checking ground clearance. However, when investors and government of Lang Son province are actively completing the preparation of project, banks are "hesitant" in granting credit. This has caused the project to be disrupted and delayed from the end of 2018. The reason is that the project has been reduced from 2 toll stations to 1 charging station on the route, affecting the initial financial plan of the project.
In order to solve the capital problem for the project, the provincial People's Committee as the competent state agency for this project has registered to work with the Government and Prime Minister to ask for guidance. On the other hand, the province also considered and calculated to allocate from the provincial budget to support the project. At the same time, the provincial People's Committee directed the districts and cities to continue reviewing all measurement, tallying and making compensation plans for ground clearance.
On the investor side, Deo Ca Group has actively negotiated with banks as well as mobilized funds from shareholders to raise capital for the project.
Mr. Ho Minh Hoang, Chairman of Deo Ca Group, said that the shareholders of the group are also very determined to implement the project and have committed to invest in this project more than 1,750 billion. The enterprise has allocated more than VND 400 billion to clear the ground and complete the documents preparing for the component project II.
In addition, in the capital structure of the project, mobilized capital from commercial banks is nearly VND3,400 billion. The Bank for Investment and Development of Vietnam has finished appraising the documents and committed to sponsor about VND2,000 billion. With the remaining VND1,400 billion, the firm are continuing to negotiate with banks to arrange enough capital to implement the project.
Besides, at the meeting between Prime Minister and leaders of Lang Son province on September 30, 2019, the province proposed Prime Minister to direct the Ministries of Planning, Investment, Finance and other relevant agencies to consider and propose the Government to support the project from the state budget of VND 3,160 billion.
Reportedly, up to now, the districts of Chi Lang, Cao Loc and Lang Son city have paid and cleared 8km of the ground, only Chi Lang district has cleared 5.1km. The contractors have implemented construction works in the field with the length of 400m.
The investors deploying the component II of the Chi Lang - Huu Nghi expressway are striving in 2019 will arrange the funding to implement the project from 2020. At that time, the contractors will focus on equipment and manpower, striving to complete the expressway project by 2021.
TRANG NINH
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