On October 10, the consortium of Construction Corporation No. 1 - JSC and Bien Hoa - Vung Tau Expressway Development Joint Stock Company (abbreviated as CC1 - BVEC consortium) sent a document to the Prime Minister, the Ministry of Construction and the People's Committee of Ho Chi Minh City and Dong Nai province on the proposal to approve the investment project to renovate and upgrade National Highway 51 (phase 2).
According to the CC1 - BVEC consortium, National Highway 51 (from Km0+900 to Km73+600) is a vital route connecting Ho Chi Minh City and Dong Nai province.
This road is currently severely damaged, the road surface is bumpy, dense with "potholes" and subsidence; many sections of the median strip, sewer covers are damaged, and painted lines lead to potential risks and accidents for people and vehicles.
Therefore, this route needs to be urgently studied for investment in renovation and upgrading to improve travel capacity, reduce congestion and traffic accidents, and at the same time create momentum for the socio-economic development of localities where the route passes through.
Through the investment in the National Highway 51 Renovation and Upgrade Project (phase 2), the CC1 and BVEC joint ventures hope to simultaneously exploit the project's investment capital recovery and combine integration to handle the shortcomings and problems of the two BOT projects National Highway 51 and Dong Nai Bridge that are in the process of temporarily suspending toll collection that has not been completely resolved to resolve the return of capital for investors...
The CC1 and BVEC Joint Ventures proposed that the Prime Minister and the Ministry of Construction approve the policy of assigning the Joint Venture of Construction Corporation No. 1 - JSC and Bien Hoa - Vung Tau Expressway Development Joint Stock Company to propose a project to renovate and upgrade National Highway 51 under the public-private partnership method, in the form of a BOT contract.
The investment project to build a new Dong Nai bridge and a route at both ends of the bridge from Tan Van intersection to the end of the Bien Hoa bypass was implemented by investor CC1 and put into operation, temporarily suspending toll collection from 2020.
BVEC is the investor of the National Highway 51 expansion investment project from Km0+900 - Km73+600 under the BOT contract form, with a length of 72.7 km, passing through Dong Nai and Ba Ria - Vung Tau provinces (now Ho Chi Minh City), exploited in 2013 and temporarily suspended toll collection in 2023.
