Phan Thiet – Dau Giay Expressway faces no-operator risk

The Thang Long Project Management Board has sent a report requesting opinions from competent authorities on funding sources for the operation of the Phan Thiet - Dau Giay Expressway.

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Recently, the Thang Long Project Management Board – the investor of the Phan Thiet – Dau Giay Expressway project – had a working session with the Vietnam Expressway Services Joint Stock Company (VECE).

The two sides worked to discuss the management, operation and maintenance during the temporary operation of the Phan Thiet – Dau Giay highway investment project component.

Specifically, according to the Thang Long Project Management Board, the management, operation and maintenance of the Phan Thiet – Dau Giay Expressway is carried out by VECE during the temporary operation period. This is a component project of the project to build a number of highway sections on the Eastern North-South route in the 2017-2020 period.

It is possible that the Phan Thiet – Dau Giay Expressway will not have an operating unit because VECE has not yet been paid the operating costs. Photo: PHUONG NAM

VECE has been carrying out the management, operation and maintenance of the expressway, ensuring safety in accordance with the content of the signed principle contract from April 29, 2023 to the present. However, to date, this unit has encountered many difficulties in terms of funding sources and no longer has the resources to maintain.

It is estimated that the operating cost to date is about 10 billion VND. VECE is temporarily having to maintain it, so the company is facing many difficulties in ensuring salaries, machinery, equipment, lighting, etc. VECE has requested that the investor pay the cost of the work performed because it no longer has the financial resources to maintain it.

In addition, the Thang Long Project Management Board has issued documents requesting the opinion of the competent authority on the source of funds for the operation of the Phan Thiet – Dau Giay Expressway.

However, to date, there has been no response, so the investor has no basis for paying VECE for the operating and maintenance costs of the Phan Thiet – Dau Giay Expressway.

Regarding this issue, the Thang Long Project Management Board said it would report to the Ministry of Transport on the source of funds to pay VECE before April 25.

In the event that by April 28, the Thang Long Project Management Board and the Ministry of Transport have not yet determined the source of funds to pay VECE, VECE will consider temporarily suspending the management, operation and maintenance of the Phan Thiet – Dau Expressway. Giay during this period.

DAO TRANG – NHU NGOC