PHI Group to invest in US$700 million Expressway PPP project in Vietnam
The Department of Planning and Investment of Ho Chi Minh City has granted PHI Group the approval to take part in the investment in the construction of the HCMC-Moc Bai Expressway PPP project in Tay Ninh, Vietnam.
The project includes the development of the 53.5 km-long and a design speed of 120km/h Ho Chi Minh City (HCMC) - Moc Bai Expressway which will connect Ring Road No 3 in HCMC’s Hoc Mon district with Moc Bai International Border Gate between Vietnam and Cambodia in Tay Ninh province. The purpose of the expressway is the reduction of traffic pressure on National Route 22 and the promotion of the socio-economic development of Ho Chi Minh City and the Southern Focal Economic Zone.
The total investment for the first phase is US$700 million, of which 44% is public capital from the budgets of Ho Chi Minh City and Tay Ninh Province and 56% is from investors. The construction of the project is expected to begin in Q3 of 2023 and is anticipated to be completed by the year 2027.
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