The provincial chairman Nguyen Hong Dien proposed the project to the Minister of Transport Nguyen Van The at a meeting about developing Thai Binh's infrastructure on December 13. Dien said they had completed the feasibility study for the project.
VND1.1trn (USD48.84m) will come from the state budget, VND1.18trn from the province's budget and the investor will contribute VND1.7trn.
Dien emphasised the importance of the road as it will help connect Thai Binh with Cat Bi Airport in Hai Phong City and Mong Cai Border Gate in Quang Ninh. He said that only this project would deliver the definite boost to Thai Binh's socio-economic development.
"We hope the ministry will agree and submit the project for prime ministerial approval," he said.
The agreed that the road would become an important route running through various provinces and cities such as Hai Phong, Nam Dinh, Ninh Binh and Thanh Hoa. However, there are many shortcomings in the financial plan.
"In the planning, there are only two lanes. The road will only have a capacity of 14,000 PCUs vehicles a day, not 25,000 vehicles as the consultant estimated," he said.
Moreover, mistakes in calculation make the financial report looks impossible and the project will not be able to recoup the capital. He asked the Department of Public-Private Partnerships to work with Thai Binh authorities to revise the financial plan.Dtinews