Phuong Thanh Company Proposes to Expand 203 km of the North-South Expressway
On June 6th, Phuong Thanh Infrastructure Investment and Construction Joint Stock Company officially sent a document to the Prime Minister and the Minister of Construction proposing to invest and expand two critical sections of the North-South Expressway in the East through a public-private partnership (PPP). This information was reported by Dau Tu newspaper.
According to the proposal, Phuong Thanh aims to invest in expanding the Phan Thiet – Dau Giay section (99 km long) and the Vung Ang – Bung – Van Ninh section (104 km long). The estimated total investment for these two sections is approximately VND 4,381 billion and VND 15,946 billion, respectively. When combined into a unified project, these two routes are expected to complement each other financially and technically, increasing feasibility in implementation and operation.
Phuong Thanh Company has served as the main contractor for large packages in both of the above-mentioned sections. This means that the company has in-depth experience with the specific geographical, geological, climatic, and construction material conditions of each area. Especially, having participated in the construction of technically challenging sections gives Phuong Thanh a significant advantage in terms of warranty transfer and maintenance if they are allowed to continue with the expansion investment.
To ensure progress and avoid legal responsibility overlap during the warranty period, Phuong Thanh proposes to implement the Phan Thiet – Dau Giay section first, as this route has been in operation since 2023 and its warranty period is about to end. Moreover, the number of vehicles on this route is increasing rapidly, making the expansion crucial and urgent to reduce congestion and meet future transport needs.
Bung-Van Ninh Expressway. Photo: Dai Doan Ket
Regarding the Vung Ang – Bung – Van Ninh section, the construction is still ongoing, expected to be completed and operated in Q3 2025. Phuong Thanh suggests that the expansion phase should be implemented after the completion and end of the warranty period of phase 1.
Phuong Thanh Company is currently one of the largest transport infrastructure contractors and BOT investors in Vietnam, with extensive experience and strong financial capabilities.
How Many Investors Have Proposed to Participate in the Expansion of the North-South Expressway in the East through PPPs?
Thus, in response to Resolution No. 68, at least four domestic investors have proposed to participate in the expansion of the North-South Expressway in the East through PPPs, including Phuong Thanh Company, VIDIFI, Son Hai Group, and Deo Ca Group.
Deo Ca Group
Deo Ca Group has officially sent Document No. 682/2025/DCG to the Prime Minister, proposing a plan to expand the entire North-South Expressway in the East from the limited four-lane scale (17-meter road width) to the planned six-lane scale to meet the growing transport needs and promote socio-economic development.
According to the proposal, the expansion scope covers all 19 component projects of the North-South Expressway in the East, which have been and are being invested in the 2017-2025 period, with a total length of 1,241 km.
Mr. Ho Minh Hoang, Chairman of Deo Ca Group, speaking at the Government Headquarters on February 10th. Photo: VGP
According to calculations, if the overall project is divided into seven component projects, the total investment of these projects is estimated at VND 180,361 billion. The payback period for each project ranges from 9 to 22 years.
In the case of selecting three component projects, the total investment is approximately VND 181,169 billion. The payback period ranges from 19 to 23 years.
Regarding the financial plan, Deo Ca Group believes that applying the toll collection mechanism according to the approved “Scheme for Toll Collection on Expressways using Public Investment Capital” will ensure stable budget revenue. Specifically, for the sections invested with public capital, the State will collect tolls with a total estimated value of VND 9,118 billion and then transfer the operation to the investor after completing the expansion.
Son Hai Group
Last weekend, Mr. Nguyen Viet Hai, Chairman of the Board of Directors of Son Hai Group Joint Stock Company, officially sent a proposal to the Prime Minister regarding the investment to expand the 263 km North-South Expressway from Hoai Nhon to Nha Trang to its complete scale using 100% capital from the investor.
Mr. Nguyen Viet Hai. Photo: VGP
According to the proposal, Son Hai Group requested to be assigned as the main coordinator, working with several capable investors to implement research and investment in completing the projects of the North-South Expressway in the East, including the sections from Hoai Nhon to Quy Nhon, from Quy Nhon to Chi Thanh, from Chi Thanh to Van Phong, and from Van Phong to Nha Trang. The total length of this route is 263 km, and it is expected to be implemented through a public-private partnership (PPP).
Son Hai Group committed to arranging all capital sources for the project, including owner’s equity and other lawful capital mobilization, without using the State budget. The company also committed to self-performing the construction with a duration of no more than 24 months from the project approval and providing a 10-year warranty for the work quality.
Vietnam Infrastructure Development and Finance Investment Corporation (VIDIFI)
Vietnam Infrastructure Development and Finance Investment Corporation (VIDIFI) has sent a document to the Prime Minister and the Ministry of Construction, officially proposing to be selected as the investor for the expansion project of the North-South Expressway in the East through a public-private partnership (PPP).
In the proposal, VIDIFI expressed its desire to prioritize investing in the northern sections, including Mai Son – National Highway 45, National Highway 45 – Nghi Son, Nghi Son – Dien Chau, Bai Vot – Ham Nghi, Ham Nghi – Vung Ang, and Vung Ang – Bung, with a total length of about 300 km and a total investment of about VND 45,375 billion.
A notable point in VIDIFI’s proposal is the strong commitment to progress, quality, and finance. If selected as the investor, VIDIFI and the investors in the joint venture pledged to implement the project on schedule and ensure quality, while actively arranging all capital sources without direct support from the State budget.
VIDIFI’s representative also said that the company has worked and agreed with the State Capital Investment Corporation (SCIC) to jointly contribute capital and establish an investor consortium. This move is considered a proactive and strategic step to enhance financial, technical, and management capabilities in implementing key infrastructure projects.
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