Lam Dong has submitted a proposal to build the 66-kilometer Tan Phu-Bao Loc Expressway as a public-private partnership (PPP) project with an investment of VND17,200 billion ($692 million).
According to the proposal submitted to the Prime Minister for approval, the four-lane expressway will connect Tan Phu district in the southern province of Dong Nai with Bao Loc town in the Central Highlands province of Lam Dong.
The expressway is part of the Dau Giay-Lien Khuong expressway project, linking Dong Nai with Ho Chi Minh City and Da Lat town in Lam Dong.
The project investor is a consortium of Deo Ca Group JSC, a leading constructor in Vietnam; Hung Thinh Corporation, a major realty developer; and Nam Mien Trung Group JSC, a multi-sector company.
The consortium has urged authorities to begin site clearance for the project in the first quarter next year.
The 22-meter-wide road is scheduled to open to traffic in 2026 in the initial phase, then expand per the traffic demand after 2035.
In the initial phase, the state budget will provide VND6,500 billion ($261.4 million) for site clearance and resettlement of citizens, the investors will contribute VND1,605 billion ($64.54 million), and the balance of VND9,095 billion will be mobilized from other legal sources.
The project is expected to use 455 hectares of land, of which 144.78 hectares will come from forest land in Lam Dong and 41.43 hectares from forest land in Dong Nai.