Investment through public-private partnerships (PPP)
The project to construct National Highway 15D, from the Cam Lo-La Son Expressway to the western branch of the Ho Chi Minh Highway, is part of the overall road transport plan intended to connect My Thuy seaport and La Lay International Border Gate. The project aims to shorten the distance and reduce transport costs from La Lay International Border Gate to My Thuy port.
This section plays a crucial role in connecting the entire National Highway 15D, and is currently undergoing Phase 1 research with a scale of a 2-lane, Class IV mountain road. The section is expected to be invested in under a public-private partnership (PPP) model.
At the meeting, representatives of the investors, including Deo Ca Group Joint Stock Company, presented route options and investment methods based on ensuring technical requirements and funding for implementation.
According to Option 1, the route is 34 km long with 4 lanes (bridges and tunnels with 2 lanes), with a total investment of 5,857 billion VND. However, some technical specifications do not conform to TCVN 4054-2005. If these technical issues are resolved to meet the standards, the total investment will increase to 11,843 billion VND.
Furthermore, according to Option 1B, if the route is locally adjusted in some sections within a 14 km range to resolve all technical issues, the route length will be reduced to 32 km, with a scale of 4 lanes (bridges and tunnels with 2 lanes), and the total investment will be reduced to 9,658 billion VND.
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| The proposed route for National Highway 15D, from the Cam Lo-La Son expressway to the western branch of the Ho Chi Minh Highway, is as follows. |
Under Option 2, which involves adjusting the entire route by approximately 14 km and increasing the total length to 36 km, with a scale of 4 lanes (bridges and tunnels with 2 lanes), the total investment would be reduced to 5,858 billion VND. This is the optimal option proposed by the investor.
Regarding the investment method in phase 1 (2-lane scale) "at normal service prices," the investor proposed a PPP investment method and presented two options: Option 1 has a total investment of VND 6,352 billion, in which the BOT investor invests all the costs; however, the investor assessed that this option does not guarantee the ability to repay the debt.
Option 2, with a total investment of VND 5,993 billion, involves VND 4,200 billion (70%) from the state budget and VND 1,793 billion from the BOT investor, with a payback period of 35 years. The investor assessed that 12 years would not be enough to cover interest payments.
Regarding the investment method "with cost-saving service prices," the total investment for the project is VND 6,319 billion, of which the state budget contributes VND 189 billion (3%), and the BOT investor invests VND 6,130 billion. The toll collection period for capital recovery is 19 years. This option helps the state budget save VND 5,669 billion compared to the investment method of Option 2 with normal service prices. The investor proposes choosing this option.
Speaking at the meeting, Vice Chairman of the Quang Tri Provincial People's Committee Le Duc Tien emphasized that the project to build National Highway 15D, from the Cam Lo - La Son expressway to the Ho Chi Minh Highway (Western branch), is a driving force contributing to the socio -economic development of the province and connecting the East-West economic corridor. To ensure the project is implemented on schedule, Vice Chairman Le Duc Tien requested relevant departments, agencies, and investors to continue refining plans to ensure compliance with legal regulations and harmonize the interests of all parties involved.
Proposal for state funding support in the project.
Previously, according to the proposal from Quang Tri province regarding National Highway 15D, the section from Cam Lo - La Son expressway to the western branch of the Ho Chi Minh Highway, a 34 km route, would be implemented under a PPP (Public-Private Partnership) model, with 2 lanes, a total estimated investment of approximately 5,662 billion VND, and an estimated toll collection period for capital recovery of about 21 years and 11 months. Of this, the state capital would be 2,550 billion VND, and the investor's capital would be 3,112 billion VND (accounting for 55%).
Regarding state capital, the local budget allocates approximately 1,000 billion VND, leaving 1,550 billion VND. Quang Tri proposes that the central government allocate medium-term public investment capital for 2026-2030 to cover this shortfall.
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| National Highway 15D, the section intersecting with the Cam Lo-La Son Expressway. |
Regarding Quang Tri province's proposal to allocate medium-term public investment capital for the project (2026-2030), the Ministry of Construction recently sent a document to the Ministry of Finance concerning the allocation of funds to support the implementation of investment projects to upgrade sections of National Highway 15D connecting My Thuy port to La Lay international border gate.
According to the Ministry of Construction, regarding the support for Quang Tri province through the Ministry of Construction's medium-term public investment capital channel for the period 2026-2030 to implement the National Highway 15D project, specifically the section from the Cam Lo - La Son expressway to the Ho Chi Minh Highway (Western branch), in accordance with the Road Law and Government Decree No. 165/2024/ND-CP dated December 26, 2024, the Ministry of Construction has coordinated with the Ministry of Finance to transfer road infrastructure assets to Quang Tri province for management, including National Highway 15D. Therefore, the authority to manage and invest in National Highway 15D falls under the responsibility of Quang Tri province.
Therefore, supporting Quang Tri province through the Ministry of Construction's medium-term public investment capital for the period 2026-2030 to implement the National Highway 15D project, specifically the section from the Cam Lo - La Son expressway to the Ho Chi Minh Highway, is inconsistent with the regulations of the law on budget and investment.
In addition, the Ministry of Construction requested that Quang Tri province clarify the basis for converting the investment form for this section of National Highway 15D from the PPP model (which the Prime Minister has assigned to Quang Tri province to implement) to public investment.
According to the Ministry of Construction, the project for National Highway 15D, specifically the section coinciding with the Ho Chi Minh Highway (Western branch), has been assigned to the Vietnam Road Administration to prepare a report proposing the investment policy for the project, with a view to including it in the medium-term public investment plan for the period 2026-2030.
To date, the Vietnam Road Administration has completed the report proposing the investment policy for the project, and the Ministry of Construction has completed the relevant procedures to approve the investment policy, expected to be completed in 2028.
Source: https://baodautu.vn/ban-phuong-an-dau-tu-quoc-lo-15d-doan-2-d589132.html
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