Approval of adjustment of Cam Lam Expressway Project

Notably, there are some important contents related to the adjustment of the Investment Component Project for the construction of the Cam Lam - Vinh Hao section 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 and separate interchange, 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 site clearance cost).

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

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.

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

The Ministry of Transport assigned Project Management Board 85 to inspect and review the capital sources for project implementation, develop a capital plan, promptly report to the Ministry of Transport to allocate payment capital for the project, 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 make payments, ensuring progress and investment efficiency of the project 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, and 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 Provincial Road 709, update traffic volume, forecast traffic, determine financial plans, payback period, fully assess impacts 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 has a length of 78.5 km, 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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