1.6tr dong of G-bonds to be issued for Noi Bai-Lao Cai highway project

The Ministry of Transportation (MoT) recently issued a Dispatch No 293/TB-BGTVT requiring the Viet Nam Expressway Development and Investment Co (VEC) to urgently submit to the Ministry of Finance the plan of issuing 1.6 trillion dong of guaranteed G-bonds in the fourth quarter of the year at the latest so as to have enough capital for carrying out the first phase of the Noi Bai-Lao Cai highway project.

MoT also allowed VEC to approve technical design for each tender package according to approved tender plan, ensure the progress of the project and meet the effective time of borrowing capital of Asian Development Bank (ADB).

The first stage of the project has the length of 264 kilometres invested by VEC with the total investment capital of US$1.249 billion, of which the expenditure for installation and construction is US$1.096 billion financed by ADB.