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Cam Lam – Vinh Hao Expressway is one of three component projects of the eastern north – south expressway project in the period 2017-2020, invested in the form of PPP. Although signing the final contract, the project has arranged enough capital including equity and other mobilized capital to carry out the construction while the other two projects are in danger of “clogging” credit capital.

Cam Lam – Vinh Hao expressway project has a total investment capital of 8,925 billion VND, represented by Deo Ca Group as the investor’s joint venture representative. Mr. Phan Van Thang, Vice Chairman of Deo Ca Group, said that the investor consortium contributed more than VND 731 billion of equity to the project, about 200% ahead of schedule according to the provisions of the BOT contract.

Construction units deployed the construction site of Nui Vung road tunnel under the Cam Lam – Vinh Hao expressway project.

Regarding other sources of mobilized capital, through the Business Cooperation Contract (BCC), the Investor proactively mobilized more than 2,000 billion VND. At the same time, on November 10, Tien Phong Commercial Joint Stock Bank (TPBank) signed a notice approving credit financing for the project with a limit of 1,700 billion VND.

It is known that this project was signed by the Ministry of Transport and the Investor on July 31, 2021. During the negotiation of the BOT contract, Deo Ca Group mentioned financial related matters such as regulations, mechanism to handle State capital, the additional adjustment of items not due to the fault of the investor and the risk-sharing mechanism in accordance with the provisions of the PPP Law… Therefore, the negotiation time was long. These are all “bloody” lessons learned through the implementation of large and difficult projects such as Bac Giang-Lang Son, Trung Luong-My Thuan, etc.

Deputy Minister of Transport Le Anh Tuan assessed: Deo Ca Group is a cautious investor, they have studied the project very carefully, negotiated closely and selected a plan to save 891 billion VND. On October 23, the ministry’s delegation went to the project to inspect, found that the investor implemented very actively, and had mobilized relatively enough capital sources to organize the project implementation. We believe that Deo Ca will fulfill its duties well to affirm its prestige and responsibility when participating in the implementation of investment in traffic infrastructure works.

In the past time, despite the impact of the Covid-19 epidemic, with the active support of the localities where the project passed and the efforts of the investors and project enterprises, the project management board has so far mobilized more than 1,000 officials, workers and more than 300 machines and equipment for construction work.

According to information from the Project Management Board, there are still about 2.2 km in Ninh Thuan province that have not yet handed over the site, and are facing difficulties and problems related to the location of the landfill, the source of materials for construction.

The Project Management Board has worked with local authorities, leaders of Ninh Thuan Provincial People’s Committee have drastically directed relevant departments and branches to focus on handling and solving problems related to site clearance, resource materials for the construction of the north-south expressway project in the section through Ninh Thuan province, in order to create favorable conditions for investors to implement the project.

BY QUANG HUNG

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