Bien Hoa-Vung Tau Expressway Development JSC debuts

Deputy Prime Minister Hoang Trung Hai

addresses at BVEC's debut ceremony.

Nhan Dan - The Bien Hoa-Vung Tau Expressway Development Joint Stock Company (BVEC) made its official debut in Ho Chi Minh City on December 23.

Vietnam Urban and Industrial Zone Development Investment Corporation (IDICO), Song Da Construction Corporation and the Bank for Investment and Development of Vietnam (BIDV) are the three founding shareholders of the company.

Of the company's total charter capital of VND 1.75 trillion, IDICO contributes 49%, Song Da Construction Corporation, 30% and BIDV, 10%.

The company is established to carry out the project to expand National Highway No 51 and another project to build the Bien Hoa-Vung Tau Expressway under the BOT (Build-Operate-Transfer) model.

The Bien Hoa-Vung Tau Expressway is 35 metres wide with six lanes. It runs in parallel with the expanded National Highway No 51. Total investment for the project is put at VND 15 trillion.

Source: Nhan Dan News

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