Thai Binh negotiates to terminate the implementation of the BOT project contract worth nearly 2,600 billion VND

The investment project to build the road from Thai Binh city to Nghen bridge was approved by the People's Council of Thai Binh province in December 2019 and adjusted in May 2020.

The project is over 21.2km long, with a scale of a grade 2 delta road, with a total investment of over VND 2,586 billion; of which, state capital is nearly VND 786 billion, capital mobilized from investors is over VND 1,800 billion; implementation period is 2020-2023; toll collection period is 22 years and 11 months.

The route from Thai Binh city to Cau Nghin bridge through Dong My commune.

The winning bidder is a consortium of Construction Corporation No. 1 - JSC, Lam Son Thai Binh Joint Stock Company, DAMSAN Joint Stock Company, and Phu Thanh Group Joint Stock Company.

After signing the BOT contract, the People's Committee of Thai Binh province and the investor actively and diligently implemented the work. On February 27, 2021, the project was started.

However, during the project implementation, difficulties in site clearance and the complicated developments of the Covid-19 pandemic... have delayed the project's progress.

In particular, the Ninh Binh - Hai Phong expressway (CT.08) according to the planning approved by the Prime Minister will be invested in the period after 2030. However, in July 2022, the Prime Minister assigned the People's Committee of Thai Binh province to study the project and in December 2023 approved the project investment policy with the expected time of operation and exploitation from 2027, which will reduce traffic volume, affecting the financial plan of the project on the route from Thai Binh city to Cau Nghin...

In order to avoid causing damage to the State and investors, Thai Binh province is studying to stop building this project under the decided PPP form.

At this time, the project has only constructed 17.6km of organic excavation, 16.54km of roadbed sand filling, about 3.5km of drainage cushion construction, 1 temporary bridge construction, completed repairs and ensured traffic within the intersection with provincial road 455 of the project.

At the meeting to negotiate the termination of the BOT project contract worth nearly VND2,600 billion, delegates focused on discussing the contents of the agreement as well as the remaining obligations of the parties and the work that needs to be done until the contract is liquidated.

Permanent Vice Chairman of Thai Binh Provincial People's Committee Nguyen Quang Hung said that the parties have agreed to terminate the BOT contract for the investment project to build the road from Thai Binh City to Nghin Bridge in accordance with the provisions of law.

Currently, the Project Management Board (PMU) for investment and construction of traffic works in Thai Binh province is coordinating with relevant departments, agencies and a consortium of investors to clearly define the technical stopping point of the project to finalize the volume of implementation, hire a consulting unit to inspect the quality of the project. On that basis, conduct an audit and finalize the value of the project volume.

The Provincial Traffic Construction Investment Project Management Board shall coordinate with relevant departments and agencies to reach an agreement with the investor consortium to develop a detailed plan from the time of contract termination until contract liquidation.

Source: https://www.baogiaothong.vn/thai-binh-dam-phan-cham-dut-thuc-hien-hop-dong-du-an-bot-gan-2600-ty-dong-192240816223537036.htm