'Tunnel King' proposes $115 mln ‘tourist’ expressway in central Vietnam
The Deo Ca Group has proposed building a six-lane, 20-km road as a “tourist route” linking Dong Hoi town with the Phong Nha-Ke Bang National Park in Quang Binh province.
At a working session with local authorities Wednesday, a group representative said the road would cost over VND2.81 trillion ($115 million) to build in the form of a public-private partnership (PPP).
It will start from Truong Phap street in Dong Hoi town and end at Km974+400 in Hoa Trach commune, Bo Trach district.
The project will create space for socio-economic development of Dong Hoi town and Bo Trach district as well as a connection between the Bung-Van Ninh Expressway, downtown Dong Hoi and Bo Trach beach.
In doing so, it would promote sea-based tourism among both domestic and foreign holidaymakers, the rep said.
Quang Binh Chairman Tran Thang welcomed the project saying it would be essential for the province’s socio-economic development, adding that it should not affect the Phong Nha-Ke Bang National Park heritage area.
Dai Cao cave in the Phong Nha-Ke Bang National Park, Quang Binh province, central Vietnam. Photo courtesy of Oxalis.
The Deo Ca Group has invested in many road and tunnel projects across the country, including the VND4.7 trillion ($193 million) Truong Vinh tunnel on the North-South Expressway’s eastern section passing the north-central provinces of Thanh Hoa and Nghe An; and Cam Lam-Vinh Hao Expressway that runs through Khanh Hoa, Ninh Thuan and Binh Thuan provinces in south-central Vietnam with a total investment capital of VND8.92 trillion ($366 million).
It is also carrying out procedures for approval of projects to build the Huu Nghi-Chi Lang Expressway running through Bac Giang and Lang Son provinces, the Dong Dang-Tra Linh Expressway in Cao Bang province, and the Tan Phu-Bao Loc Expressway running through Dong Nai and Lam Dong provinces.
Known as the “King of Tunnels” in Vietnam, Deo Ca has acquired fame for building the Deo Ca, Co Ma, Cu Mong and Hai Van 2 tunnels with a total investment capital of more than VND21.61 trillion ($887 million). At the end of 2021, its total assets were valued at nearly VND39.43 trillion ($1.62 billion).
- Related News
- Read More
WB revises up Vietnam’s 2025 GDP growth forecast to 6.6%
Vietnam’s GDP growth can reach 6.6% in 2025, the World Bank said in the newly-released January edition of its “Global Economic Prospects” report.
Economy - Sat, January 18, 2025 | 10:36 am GMT+7
Poland’s leading pharma group Adamed keen to expand in Vietnam: exec
Adamed Pharma, a leading pharmaceutical and biotechnology group in Poland, plans to expand its investment in Vietnam, said Malgorzata Adamkiewicz, president of the company’s supervisory board.
Industries - Sat, January 18, 2025 | 10:16 am GMT+7
Ethics, ambition critical for startup founders to succeed: Go Global Holdings exec
The global investment landscape offers abundant opportunities for Vietnamese brands to expand internationally, but startups must prioritize self-improvement and readiness, says Nguyen Phi Van, chairwoman of Go Global Holdings, a company specializing in franchising.
Companies - Sat, January 18, 2025 | 9:00 am GMT+7
Scandal-hit Tan Hoang Minh Group eyes $592 mln ecotourism project in central Vietnam
Real estate developer Tan Hoang Minh Group has proposed the central province of Quang Binh allow it to study the building of a VND15 trillion ($592 million) ecotourism area in Le Thu district.
Real Estate - Sat, January 18, 2025 | 8:00 am GMT+7
Germany energy firm wpd plans $180 mln wind power project in central Vietnam
Germany’s energy company wpd plans to invest VND4,600 billion ($181.62 million) in building a 143 MW wind power plant in Vietnam’s central coastal province of Binh Dinh.
Energy - Fri, January 17, 2025 | 10:21 pm GMT+7
BRICS – new key export market of Indonesia
Indonesia’s non-oil and gas exports to the five major BRICS nations reached $84.37 billion in 2024, accounting for nearly 34% of the country’s total non-oil and gas export value, according to the country’s Central Statistics Agency (BPS).
Southeast Asia - Fri, January 17, 2025 | 9:54 pm GMT+7
Vietnam refinery operator BSR hits $2.6 bln valuation in bourse debut
Binh Son Refining and Petrochemical JSC, the operator of Vietnam’s first oil refinery Dung Quat, officially listed over 3.1 billion BSR shares on the Ho Chi Minh Stock Exchange (HoSE) on Friday, marking a rare "blockbuster" debut on the major bourse in recent years.
Companies - Fri, January 17, 2025 | 6:59 pm GMT+7
Two remaining weak Vietnamese banks transferred to VPBank, HDBank
The State Bank of Vietnam, the country's central bank, on Friday announced the mandatory transfers of two "weak" private banks under its special control, GPBank and DongA Bank, to VPBank and HDBank respectively.
Banking - Fri, January 17, 2025 | 4:32 pm GMT+7
DPPA not applied to non-manufacturing consumers, Vietnam ministry insists
Vietnam’s Ministry of Industry and Trade does not plan to extend the direct power purchase agreement (DPPA) mechanism to non-manufacturing consumers using the national grid.
Energy - Fri, January 17, 2025 | 3:50 pm GMT+7
Two foreign giants eye luxury marina, resort projects in central Vietnam
Swiss investment fund Finance Suisse and the world’s leading superyacht builder Palmer Johnson are looking for opportunities to invest in a super-luxury marina and a resort in the south-central Vietnam province of Binh Dinh.
Industries - Fri, January 17, 2025 | 3:18 pm GMT+7
Int’l investment funds interested in Danang’s financial center: city leader
International investors and financial investment funds from the U.S., Singapore, the Middle East, and Switzerland are highly interested in developing a financial center in Danang, says Ho Ky Minh, the central city’s Vice Chairman.
Economy - Fri, January 17, 2025 | 12:49 pm GMT+7
Samsung’s ex-HR head Na Ki-hong to lead Samsung Vietnam from next month
Na Ki-hong, deputy CEO of Samsung Vietnam and former human resources head at Samsung Electronics, will succeed Choi Joo Ho as CEO of Samsung Vietnam from February.
Companies - Fri, January 17, 2025 | 12:41 pm GMT+7
Vietnam, Poland agree to consider elevating relations to strategic partnership
Vietnamese Prime Minister Pham Minh Chinh and his Polish counterpart Donald Tusk have agreed that the two sides should consider upgrading relations to a strategic partnership soon, on the basis of high political trust and positive results of the 75-year traditional friendship.
Politics - Fri, January 17, 2025 | 10:59 am GMT+7
Japan’s Erex to operate wood pellet plant in northern Vietnam next month
Japan's renewable energy firm Erex is conducting trial production at its wood pellet plant in Vietnam’s northern mountainous province of Tuyen Quang and will put it into official operation in February.
Energy - Fri, January 17, 2025 | 10:54 am GMT+7
AI can’t compete with human in curiosity, creativity, emotional intelligence: FPT exec
AI lacks curiosity, creativity, and emotional intelligence - the qualities that humans must prioritize to maintain their competitive edge, says Hoang Nam Tien, former chairman of FPT Software and FPT Telecom under Vietnam's leading tech corporation FPT.
Companies - Fri, January 17, 2025 | 9:41 am GMT+7
HCMC’s Can Gio port project gets in-principle approval
Vietnamese Prime Minister Pham Minh Chinh has granted in-principle approval to the Can Gio International Transshipment Port project in Ho Chi Minh City, with investment capital exceeding VND50 trillion ($1.97 billion).
Infrastructure - Fri, January 17, 2025 | 8:17 am GMT+7
