WB to Finance Da Nang-Quang Ngai Highway Project

3:58:20 PM | 25/8/2011

 PM Nguyen Tan Dung has approved the outcomes of negotiations with the World Bank for credits for a highway project to link Da Nang city and Quang Ngai province.
The Government chief has accredited the State Bank of Vietnam to sign the sponsoring agreements and related documents with the WB.
The Ministry of Transport was requested to coordinate with the Ministry of Finance and related agencies to commence negotiations with the Japanese Government on the co-sponsor of the project.
Vietnam and the WB began negotiations for the project last April.
The Da Nang-Quang Ngai highway project has the length of 135 km, starting from Hoa Vang District of Da Nang city to the ring-road of Quang Ngai city. Construction is expected to begin in late Q4/2011 and to be completed by 2016.
The project is part of the North-South highway system.