Submit to the National Assembly to increase investment capital for Bien Hoa - Vung Tau expressway to 21,551 billion VND

Construction of Bien Hoa - Vung Tau Expressway. (Photo: Ba Ria - Vung Tau Newspaper ).

The Government has just issued Document No. 422/TTr – CP proposing that the National Assembly consider approving the adjustment of the investment policy for the Bien Hoa - Vung Tau Expressway Construction Investment Project (Phase 1).

Accordingly, the Government proposed the National Assembly to preliminarily adjust the total investment of the entire Project from VND 17,837 billion to VND 21,551 billion (an increase of VND 3,714 billion), of which Component Project 1 is VND 6,693 billion (compensation, support and resettlement costs are VND 3,481 billion); Component Project 2 is VND 7,642 billion (compensation, support and resettlement costs are VND 2,354 billion); Component Project 3 is VND 7,216 billion (compensation, support and resettlement costs are VND 4,021 billion).

The Government also proposed to adjust capital sources, including the State budget for the 2021-2025 period of VND 17,124 billion (an increase of VND 2,854 billion), of which the central budget is VND 12,144 billion, the local budget is VND 4,980 billion (Dong Nai province is VND 2,969 billion and Ba Ria - Vung Tau province is VND 2,011 billion); the central budget for the 2026-2030 period is VND 4,427 billion (an increase of VND 860 billion).

It is known that during the implementation of the Project, a number of factors have arisen that increased the total investment of the component projects approved by the Ministry of Construction and the People's Committees of Dong Nai and Ba Ria - Vung Tau provinces, leading to a preliminary increase in the total investment of the Project approved by the National Assembly in Resolution No. 59/2022/QH15 dated June 16, 2022.

Specifically, the total cost of compensation, support and resettlement of the Project is 9,856 billion VND, an increase of 3,227 billion VND. The large fluctuations in the compensation, support and resettlement costs leading to an excess of the preliminary total investment of the Project are mainly due to the fact that during the implementation of the site clearance work, the volume and area structure of the affected land types were measured, counted and re-calibrated; the volume and cost of technical infrastructure relocation were re-calibrated; the unit price of compensation in Dong Nai and Ba Ria - Vung Tau provinces at the time of land acquisition compared to the plan; and the addition of a different-level intersection connecting to My Xuan - Ngai Giao road (DT.991).

In addition, based on the implementation results of the component projects, the total construction investment cost of the project is expected to be 11,695 billion VND, an increase of 487 billion VND.

The additional construction investment costs are due to the fact that during the implementation process, the investors of the component projects have conducted detailed surveys of terrain, geology, hydrology and reached agreements with relevant infrastructure management agencies according to regulations; on that basis, review, update and optimize design solutions (solutions for handling weak soil, bridge design, etc.) to ensure suitability with actual conditions, stability and safety in operation.

The construction investment cost of the Bien Hoa - Vung Tau Expressway Construction Investment Project (Phase 1) also increased due to fluctuations in unit prices of materials, labor, and construction machinery at the time of preparation and approval of technical design documents and construction estimates in 2023 compared to the time of preparation of the investment policy; additional investment in vehicle load inspection stations according to QCVN 66:2024/BGTVT; additional level-separated intersection connecting with My Xuan - Ngai Giao road (DT.991).

According to the provisions of Clause 2, Article 37 and Clause 4, Article 103 of the Law on Public Investment No. 58/2024/QH15, due to the Project's total investment increasing compared to the approved investment policy, it is necessary to carry out procedures for submitting to the National Assembly for approval of adjustments to the investment policy, as a basis for adjusting the investment projects of the component projects.

Previously, the National Assembly decided on the investment policy of the Project in Resolution No. 59/2022/QH15 dated June 16, 2022, including investment in about 53.7 km of highway, design speed of 100 km/h; scale of 4-6 lanes; preliminary total investment of about 17,837 billion VND; divided into 3 component projects.

Component project 1 is about 16 km long, with 4 lanes; preliminary total investment is about 6,240 billion VND, preliminary compensation, support and resettlement costs are about 3,589 billion VND.

Component 2 project is about 18.2 km long, with a scale of 4-6 lanes; preliminary total investment is about 6,407 billion VND; preliminary compensation, support and resettlement costs are about 1,707 billion VND.

Component 3 project is about 19.5 km long; 4-lane scale; preliminary total investment is about 5,190 billion VND; preliminary compensation, support and resettlement costs are about 1,333 billion VND.

The Bien Hoa - Vung Tau Expressway construction investment project (phase 1) will be basically completed in 2025 and the entire project will be put into synchronous operation in 2026.

In Decision No. 17/2022/QD-TTg dated July 28, 2022, the Prime Minister assigned the People's Committee of Dong Nai province to be the managing agency of Component Project 1, the Ministry of Transport (now the Ministry of Construction) to be the managing agency of Component Project 2 and the People's Committee of Ba Ria - Vung Tau province to be the managing agency of Component Project 3.

Source: https://baodautu.vn/trinh-quoc-hoi-tang-von-dau-tu-cao-toc-bien-hoa---vung-tau-len-21551-ty-dong-d283741.html