First PPP project introduced to Singaporean investors
Vietnam’s first public private partnership (PPP) infrastructure project, Dau Giay-Phan Thiet Expressway, was introduced to global investors at a conference held in Singapore on July 26.
The 100km toll road running through Dong Nai and Binh Thuan provinces will be a critical link in the national north-south highway corridor, and is expected to reduce travel time between Ho Chi Minh City and its neighbouring regions once completed in 2019.
Its construction will meet strict international requirements in terms of technique, environment and economics to ensure sustainable development and the 2020 target to turn Vietnam into an industrial country, said Deputy Minister of Transport Nguyen Ngoc Dong.
Multi-industry group Bitexco was selected by the Vietnamese Government and the World Bank as an investor of the US$757 million expressway.
Bitexco said it will contribute a 60% stake to the project and join the national programme to find, amongst several Asian nations, a second investor.
The project was earlier introduced to investors in India and the Republic of Korea.