Korean group proposes BOT road project in Can Tho city
YK Group of the Republic of Korea (RoK) suggested a transport project under the build-operate-transfer (BOT) format in the Mekong Delta city of Can Tho during a working session with municipal authorities on October 31.
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YK Chairman Jang Sang Kyu said his group is interested in some projects in Can Tho, including the construction of a road linking National Highway 91 with Nam Song Hau road.
Proposing two plans for this project, he said under the BOT format, the construction could be funded with the RoK’s capital and toll collection will last for 30 years. In the second plan, Can Tho will be the investor and cover 20-30% of the total cost while the remaining capital could be borrowed from the RoK Government.
According to the municipal Department of Transport, the project will have total length of about 30km, including nine intersections and 25 bridges. Total cost for the construction is estimated at VND15.07 trillion (US$714 million), including VND791 billion (US$38 million) for site clearance.
Chairman of the municipal People’s Committee Vo Thanh Thong said Can Tho is very interested in the YK-suggested project. It has planned to build this road for a long time but lacks funding.
The city wants this project to be carried out under a BOT contract which is more feasible than the implementation funded by the State budget, he noted, suggesting YK Group carry out some cultural or tourism projects to capitalise on this road.
