Approval of adjustment of Cam Lam Expressway Project

Notably, there are some important contents related to the adjustment of the Cam Lam - Vinh Hao section construction investment component project in this Decision.

Specifically, the Ministry of Transport decided to add the investment item to complete the construction of Thuan Nam intersection (Km113+000) connecting with DT.709, a simple interconnected, separate-merge level intersection, including 4 connecting branches, the expressway goes underneath; adding a drainage system; traffic safety system; lighting and works serving operation and exploitation (non-stop toll station, ITS system) within the intersection.

The total cost of the additional project of Thuan Nam intersection (Km113+00) connecting with DT.709 is about 125.81 billion VND (including land clearance cost).

Due to the appearance of additional items, the total investment of the project in the post-adjustment phase is VND 8,925.48 billion; of which, compensation, support and resettlement costs are VND 496.11 billion; construction and equipment costs are VND 7,394.44 billion; project management, consulting and other costs are VND 374.60 billion; loan interest during the construction period is VND 246.65 billion; contingency costs are VND 413.68 billion.

The State's investment capital participating in the Project implementation after adjustment is 5,139.28 billion VND (including additional investment capital for the construction of the Thuan Nam intersection connecting with DT.709); the investor's capital is 3,786.20 billion VND (including equity capital and capital mobilized from other legal sources to implement the project) according to Project Contract No. 316/HD.BOT-BGTVT dated July 30, 2021.

Also in the Decision, the Ministry of Transport has adjusted the construction time of the Project. Accordingly, the Project will start construction in 2021, complete the road and bridge items of the Project to ensure traffic opening before December 30, 2023, complete all auxiliary volumes and put the project into use before March 30, 2024; the Nui Vung tunnel item will be completed within 30 months.

The construction time to complete the additional investment item to complete the construction of Thuan Nam intersection (Km113+000) connecting with DT.709 is 4 months.

The Ministry of Transport assigned Project Management Board 85 to inspect and review the project's capital sources, develop a capital plan, promptly report to the Ministry of Transport to allocate capital sources for project payment, ensuring full and timely payment according to regulations; strictly manage and control construction investment costs, ensuring that the total construction investment does not exceed; manage contracts, use capital and accept and pay, ensuring progress and project investment efficiency according to regulations.

At the same time, be responsible for checking and reviewing the volume distribution, matching the scope of investment items to complete the construction of Thuan Nam intersection connecting with DT.709, reaching an agreement with investors and project enterprises to avoid duplication.

At the same time, develop a plan to organize the implementation of the investment project to complete the construction of Thuan Nam intersection connecting with DT.709, update traffic volume, forecast traffic, determine financial plan, payback period, fully assess the impact to complete related procedures, ensure compliance with contract regulations and legal regulations.

It is known that Cam Lam - Vinh Hao Expressway is one of the 3 North - South Expressway projects phase 1 implemented under the PPP method. The project is 78.5 km long, passing through 3 provinces: Khanh Hoa (nearly 5 km), Ninh Thuan (63 km), Binh Thuan (nearly 12 km), invested by the joint venture Deo Ca Group - Company 194./.

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