Vietnam’s expressway is poured 4,800 billion VND ‘help’ from Asia’s top ‘big hand’
My An – Cao Lanh Expressway is “supported” by 4,800 billion VND
Vietnam’s Minister of Finance Ho Duc Phuc and Mr. Hwang Ki-yeon – CEO of the Export-Import Bank of Korea recently had an exchange of signing documents. Accordingly, this ceremony was witnessed by Prime Minister Pham Minh Chinh and South Korean Prime Minister Han Duck so.
This signing document is an agreement worth 261.351 billion Korean Won (equivalent to about 188.115 million USD – approximately 4,800 billion VND), aiming to finance the construction project of phase 1 of the My An – Cao Lanh expressway with a length of 26.6km.
After being built, this project promises to complete the Western North-South Expressway in Vietnam.
Minister Ho Duc Phuc expressed his belief in the close cooperation between the two sides to accelerate the disbursement process in the coming time.
The amount of KRW 261.351 billion is the first loan within the framework of the Joint Agreement on EDCF Loans for the period 2024-2030 with a total value of USD 2 billion, signed between the Ministry of Finance of Vietnam and the Export-Import Bank of Korea.
The Korean government is currently ranked 2nd among the largest bilateral ODA donors in Asia to Vietnam and the largest donor to Vietnam through the Korea Economic Development Cooperation Fund (EDCF), managed by the Export-Import Bank of Korea.
My An – Cao Lanh Expressway Project phase 1 is one of 19 projects that are about to be invested and will complete the commencement procedure in 2024.
The decision to approve the project is considered the basis for carrying out procedures for negotiating and signing ODA loan agreements as well as the use of reciprocal capital as prescribed.
My An – Cao Lanh Expressway helps complete the North-South Expressway in the West
The Ministry of Transport (MOT) has appointed My Thuan Project Management Board as the investor for phase 1 of the project, aiming to gradually complete the Western North-South Expressway.
This expressway has a length of 26.6km, starting from Km96 + 875 in My An, Thap Muoi, Dong Thap and ending at An Binh intersection in Cao Lanh, Dong Thap.
This expressway project will run to the west, the north to avoid My An, pass through provincial road 845 and Tu Moi canal, continue to run parallel to Nguyen Van Tiep A canal and turn southwest to cross the canal with provincial road 846. My An – Cao Lanh Expressway continues to run southwest, passing through provincial road 847 in Nhi My and turning left across Can Lo River and connecting to Cao Lanh Bridge in An Binh.
