Resolution of the Provincial People's Council on adjusting the investment policy of the East-West Road Construction Project

On July 12, 2023, the People's Council of Ninh Binh province issued Resolution No. 91/NQ-HDND on adjusting the investment policy of the East-West Road Construction Project, Ninh Binh province (Phase I).

According to the Resolution, approving the adjustment of the investment policy of the East-West Road Construction Project, Ninh Binh Province (Phase I) managed by the Provincial Traffic Construction Investment Project Management Board: Group A project with a total adjusted project investment of VND 1,913,754 billion (an increase of VND 427,754 billion due to costs incurred in site clearance and a reduction of some costs in the total investment);

Capital structure after adjustment: Central budget is 500 billion VND arranged in the Medium-term Public Investment Plan for the period 2021-2025; Provincial budget is 1,413.754 billion VND, of which 986.0 billion VND has been arranged in the Medium-term Public Investment Plan for the period 2021-2025; 427.754 billion VND is arranged from the reserve source of the Medium-term Public Investment Plan for the period 2021-2025 and the Medium-term Public Investment Plan for the period 2026-2030.

Implementation period after adjustment: 2021-2026.

The project implementation progress after adjustment includes 5 stages: Approving the investment policy, preparing the Feasibility Study Report and approving the project, approving the construction drawing design, selecting the construction contractor and supervision consultant (2021); Carrying out site clearance, starting construction, constructing the roadbed (2022); Preparing and approving the adjusted investment policy, preparing and approving the adjusted Feasibility Study Report; preparing and approving the adjusted construction drawing design; continuing to carry out site clearance, constructing the roadbed, road surface, bridge and culvert sections on the route (2023); Continuing to construct the roadbed, road surface, bridge and culvert sections on the route (2024); Constructing the remaining items, completing the project (2025-2026).

The Provincial People's Committee is assigned to organize the implementation of the Resolution, direct departments, branches, investors and relevant agencies and units to complete the project adjustment dossier and submit it to competent authorities for approval in accordance with the provisions of the Law on Public Investment and related laws. At the same time, organize the implementation of the project according to the allocated capital limit, not allowing the arising of outstanding debts for basic construction.

The Resolution was passed by the 15th Ninh Binh Provincial People's Council at the 15th session and took effect from July 12, 2023.

See full details of the Resolution here: resolution-of-the-People's Council-on-adjustment-of-investment-school-9c6aa.pdf

Bui Dieu

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