Extension of toll collection right for HCMC-Trung Luong expy proposed

Extension of toll collection right for HCMC-Trung Luong expy proposed By Le Anh The HCMC-Trung Luong Expressway is the first expressway project to be built – PHOTO: LE ANH HCMC – Cuu Long Corporation for Investment, Development and Project Management of Infrastructure (CIPM) has written to the Ministry of Transport proposing to continue collecting toll fees on the HCMC-Trung Luong Expressway for one year and a half after the commercial right over the expressway expires late this year. CIPM petitioned that the toll collection will continue between January 2019 and June 2020, after the road commercial contract with Yen Khanh Trade Production and Service Company expires on December 31, 2018. Yen Khanh had purchased the right to collect toll fees for five years, starting from January 1, 2014, with a transfer price of some VND2 trillion. CIPM in its petition said that the continued toll collection is meant to make the most of the public infrastructure asset to create fund for building another expressway section known as Trung Luong-My Thuan Expressway being developed under the build-operate-transfer format. Earlier, the Government had approved continued toll collection for funds to finance the new expressway section, on the condition that the new expressway be completed by the time the aforesaid commercial right contract expires. Specifically, according to CIPM, the Government issued Document No.2035 on October 14, 2014, to approve a project to build the Trung Luong-My Thuan Expressway under the build-operate-transfer format. The State would partially fund the project by using fund from… [Read full story]