Investor in Rach Mieu 2 Bridge proposes capital increase

Xuân Nghi Monday | 03/27/2023 21:30

Proposal seeks to raise capital to $284 million. Photo by VnEconomy.

The investor in the Rach Mieu 2 Bridge project has proposed the Ministry of Transport increase investment capital by VND1.6 trillion ($68 million) to VND6.8 trillion ($284 million).

The bridge spans the Tien River, connecting the Mekong Delta’s Tien Gang and Ben Tre provinces. It is designed to be 17.6 km in total length, including approach roads, with six lanes and a speed limit of 80 km/h.

The Management Board of the My Thuan Project, the investor, also sought permission to push project completion back to 2026 from the previous 2025.

The capital adjustment stems from a rise in site clearance area needed for construction, with a rising number of affected households and site clearance costs.

Costs for site clearance have increased by VND827 billion ($34.6 million) in Tien Giang province and VND355 billion ($14.8 million) in Ben Tre province.

Last month, Prime Minister Pham Minh Chinh examined the construction site and asked the Ministry of Transport and relevant agencies to review and supervise implementation, to ensure project quality, transparency, and no corruption.

Source: VnEconomy