2:54:02 PM | 19/5/2008
The Vietnam Bank Development (VDB) and the Vietnam Infrastructure Development and Financial Investment (Vidifi) May 14 signed a credit deal to provide VND21.566 trillion (US$1.38 billion) in Hanoi to build the highway linking Hanoi and Haiphong Cities, the newspaper Vietnam Economic Times said on May 15.
VDB will provide Vidifi with the loans with interest rates to be based on the market, the newspaper said. The bank will fundraise to invest into urban areas, industrial parks along with the road, it noted.
The Bank for Foreign Trade of Vietnam, or Vietcombank will contribute 29 per cent of the registered capital of the company, the Vietnam Development Bank, or VDB, 50 per cent, Vietnam Construction Import-Export Corp, or Vinaconex 10 per cent and Saigon Invest Group 10 per cent, the newspaper said earlier this year.
Vidifi will start build the road under the BOT (Build-Operate-Transfer) model in the first phase in May this year, which has a total length of 105.5 kilometers, starting Road Belt 3 of Hanoi and Dinh Vu Dyke in Hai An district of Haiphong City.
The company has scheduled to complete the work in 2011, it noted. Once fully operational, the 6-lane road will allow vehicle to travel at 120 kilometers per hour. (Vietnam Economic Times)
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