On August 7, the People's Committee of Dong Nai province worked on the elevated road project along National Highway 51 from Vung Tau intersection to the intersection of Vo Nguyen Giap Street with Bien Hoa - Vung Tau Expressway under the public-private partnership (PPP) method.
Currently, the project proposal investor consortium has submitted a project pre-feasibility study report for appraisal. The Department of Finance is consulting with relevant units on the project's pre-feasibility study report.
In the project's pre-feasibility study report, the investor consortium proposed a project to propose 2 financial options to implement the project investment.
Option 1 has a total investment of more than VND 16,000 billion with a state capital structure participating in the project of more than VND 4,800 billion (accounting for more than 30% of the total investment), BOT capital (including interest) of more than VND 11,200 billion (accounting for nearly 70% of the total investment). With this plan, the project's payback period is 25 years and 3 months.
With option 2, the total investment of the project is nearly VND 16,600 billion. The entire capital source for project implementation is BOT capital (including interest). With this plan, the project's payback period is 26 years and 9 months.
At the meeting, Vice Chairman of Dong Nai Provincial People's Committee Ho Van Ha proposed that the investor consortium clarify the socio-economic efficiency and urban beauty before reporting to the Provincial People's Committee Party Committee and the Provincial Party Committee Standing Committee to select investors to implement the project.
At the same time, the Department of Construction researched and evaluated the effectiveness of the elevated road construction plan with the investment plan to build 2 intersections at Vung Tau and Gate 11, and reported to the Provincial People's Committee.
The Department of Agriculture and Environment proactively carries out tasks related to compensation and resettlement for projects.
The elevated road project along National Highway 51 from the Vung Tau intersection to the intersection of Vo Nguyen Giap Street with the Bien Hoa - Vung Tau Expressway proposed by the investor is about 5.5 km long.
The project will invest in the construction of an elevated road along National Highway 51 and the intersections of Vung Tau intersection, Gate 11, Vo Nguyen Giap Street with Bien Hoa - Vung Tau Expressway and the intersection with National Highway 2.
On January 2, the People's Committee of Dong Nai province worked on the proposal for an elevated road project along National Highway 51 from Vung Tau intersection to Gate 11.
According to the People's Committee of Dong Nai province, the investment in completing the two intersections of Vung Tau intersection and Gate 11 is very necessary and urgent. Currently, the traffic volume on National Highway 51 is very large, causing frequent traffic congestion.
In 2026, when the Bien Hoa - Vung Tau expressway is put into operation, the traffic volume to these two intersections will be even greater.
