On the morning of September 4, a Government delegation led by Deputy Prime Minister Tran Hong Ha conducted a survey at the Tan Hoi intersection (Duc Trong district), part of the Bao Loc – Lien Khuong expressway (Lam Dong province).
Deputy Prime Minister Tran Hong Ha examines the Tan Hoi intersection map
The Bao Loc – Lien Khuong expressway project is 73km long, with a roadbed of 17m and four lanes. The total investment for this project exceeds VND 19,520 billion. The expressway will pass through Bao Loc city and the districts of Bao Lam, Di Linh, and Duc Trong.
This project is expected to boost the socio-economic development of Lam Dong province and facilitate better connectivity between the Central Highlands and the Southeast region.
During the survey, Deputy Prime Minister Tran Hong Ha listened to the concerned units present certain difficulties and obstacles faced in the process of implementing the project’s procedures.
Accordingly, the representative of Deo Ca Group (the project’s investment proponent) mentioned the challenge of securing credit support for the project. “Currently, only the Vietnam Development Bank has committed to arranging and lending sufficient funds for the project’s mobilized capital. However, the lending condition is that ‘the owner’s capital participating in the project implementation must be at least 20% of the project’s total investment (excluding working capital)…”, according to the Deo Ca Group representative.
Deputy Prime Minister Tran Hong Ha engages in discussion with the Lam Dong provincial delegation
Previously, on September 3, the People’s Committee of Lam Dong province submitted a report and proposed to the Government several difficulties and obstacles related to the two expressway projects: Tan Phu – Bao Loc and Bao Loc – Lien Khuong.
Currently, these two expressway projects face capital challenges and have not been granted the mechanism to share the reduced revenue, making it difficult to attract investors. They also overlap with the mineral planning for the period 2021-2030, with a vision towards 2050 (according to Decision No. 866/QD-TTg dated July 18, 2023, of the Prime Minister) across an area of over 224 hectares. The resettlement areas for these projects also overlap with the mineral planning.
Given these challenges, Lam Dong province proposed that the Government consider allocating an additional VND 2,410 billion in state budget funds for the Tan Phu – Bao Loc expressway and VND 922 billion for the Bao Loc – Lien Khuong expressway.
The expressway projects in Lam Dong province are facing capital and mineral planning challenges
At the same time, the province also proposed that the Government allow the Tan Phu – Bao Loc expressway project to apply the mechanism for sharing reduced revenue as per regulations. They further proposed that the Government request the State Bank of Vietnam to direct commercial banks to provide sufficient loans for the mobilized capital of the two expressway projects at preferential interest rates, to complete the financial plan and approve the projects for early construction.
Regarding the overlap with mineral planning, as the mineral reserves in the overlapping area are not significant, the People’s Committee of Lam Dong province proposed that the Government allow the implementation of the two expressway projects following the surveyed route.
Route map of the Dau Giay – Lien Khuong expressway project, Tan Phu – Lien Khuong section
Additionally, Lam Dong province proposed that the Government assign the Ministry of Planning and Investment to approve the adjustment of the allocation of VND 2,000 billion in central budget capital for the project, with VND 420 billion allocated to Dong Nai province for compensation, support, and resettlement, and VND 1,580 billion to Lam Dong province…
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