Expressway builder asks government for payment

By Nguyen Ha   August 29, 2018 | 09:58 am GMT+7
Expressway builder asks government for payment
The 150-kilometer Hanoi-Hai Phong expressway cost over $2 billion. Photo acquired by VnExpress

A road construction company has asked authorities to make payment for an expressway it had built from Hanoi to Hai Phong in 2015.

The Vietnam Infrastructure Development and Finance Investment Jsc (VIDIFI) has written to the Ministry of Finance and Hanoi demanding payment of the VND4.7 trillion ($200 million) they owe.

The government had promised to pay the money with the land use fees and rentals collected in the Gia Lam Urban Area and industrial zones built near the expressway, the firm said.

Now that land for the urban area has been cleared it should be paid, it said.

The six-lane, 150-kilometer Hanoi-Hai Phong expressway cost over VND45 trillion (over $2 billion), with most of the money coming from commercial loans with interest rates of 10.5-11.4 percent payable over 30 years.

But VIDIFI has said the toll expressway is suffering losses of VND2.5 billion ($108,000) a day.

 
 
go to top