BOT toll station on National Highway 51: Local authorities demand dismantling, investor and bank request extension.

The process of resolving the issues surrounding the BOT National Highway 51 project between the investor and the Vietnam Road Administration (Ministry of Construction) has spanned the past three years but remains unresolved.

The road surface is peeling off, exposing the reinforcing steel near the toll station in Tam Phuoc ward, posing a potential traffic accident risk - Photo: A Loc

Mr. Dinh Hong Ha, General Director of Bien Hoa - Vung Tau Expressway Development Joint Stock Company (BVEC), has signed a document sent to the Vietnam Road Administration and relevant authorities in Ho Chi Minh City and Dong Nai province regarding the dismantling of toll stations at the National Highway 51 expansion project under the BOT (build-operate-transfer) contract model.

Investors and banks have expressed their opinions on the request to dismantle the toll station on National Highway 51.

According to this company, the BOT project for National Highway 51 commenced operations in April 2013. During negotiations to finalize investment capital and calculate the financial plan between BVEC and the Vietnam Road Administration, the two sides agreed on several points. However, some fundamental issues remain unresolved.

While negotiations on these matters were still ongoing, the Vietnam Road Administration requested a temporary suspension of toll collection from January 13, 2023. This left the company without the funds to maintain and repair the road. BVEC subsequently temporarily handed over the project to Road Management Area IV from April 19, 2023, as directed by the Vietnam Road Administration.

The suspension of toll collection has caused many difficulties; to date, BVEC has not repaid approximately 307.5 billion VND to its shareholders and has not yet repaid its remaining bank loans of approximately 470 billion VND (not including interest on loans totaling over 141 billion VND).

According to BVEC, the collateral for the outstanding loan is the right to collect tolls at three toll stations on National Highway 51. Since toll collection has stopped and the debt repayment obligations to the banks have not been fulfilled, any dismantling of the toll stations or any alteration of the collateral formed from the loan requires the written consent and approval of the banks co-financing the project.

The bank also requested that the competent authority extend the deadline for dismantling the toll stations for BVEC by a maximum of 12 months from the date of issuance of the directive, or until an official decision is made on restarting toll collection.

"During this time, BVEC requests the support of competent state agencies to implement enhanced security measures, barriers, lighting, signs, etc., to prevent traffic accidents," the bank stated.

National Highway 51 is in disrepair; voters have been petitioning for years, and the local authorities are demanding a definitive solution.

The process of resolving the issues surrounding the BOT National Highway 51 project between the investor and the Vietnam Road Administration ( Ministry of Construction ) has dragged on for the past three years without a conclusion. While the two sides have gone through dozens of negotiations without reaching an agreement, on the ground, National Highway 51 is deteriorating and suffering severe damage.

By April 2025, the Ministry of Finance had decided to transfer the management of National Highway 51's infrastructure assets to local authorities. Although Ho Chi Minh City and Dong Nai Province have taken over management, the upgrading of this vital road remains stalled due to toll booths and the old BOT contract. Meanwhile, voters in both localities have repeatedly requested a definitive resolution of the contract, providing a basis for upgrading the road to ensure traffic safety and socio-economic development.

In a recent document sent to the Ministry of Construction, the Vietnam Road Administration, and BVEC, the Ho Chi Minh City Department of Construction stated that the T3 toll station on National Highway 51 is no longer operational but still contains the toll station building, traffic islands, pillar foundations, signs, and other auxiliary structures.

The continued existence of this obsolete toll booth is causing traffic conflicts, obstructing visibility, narrowing the road, and posing a very high risk of traffic accidents, especially at the end of the year when travel and goods transportation demand increase.

Therefore, the Ho Chi Minh City Department of Construction has requested the Ministry of Construction and the Vietnam Road Administration to direct BVEC and Road Management Area IV to urgently dismantle the toll station before December 15, 2025.

If the toll station remains undismantled, the Ho Chi Minh City Department of Construction will be forced to coordinate with local authorities and relevant agencies to dismantle it to ensure traffic safety in the area. The expected completion date is before December 30, 2025.

DUC PHU - HA MI

Source: https://tuoitre.vn/tram-thu-phi-bot-quoc-lo-51-dia-phuong-yeu-cau-thao-do-nha-dau-tu-cung-ngan-hang-doi-gia-han-20251211100626427.htm