A section of Ho Chi Minh City – Long Thanh – Dau Giay highway. Photo: motthegioi.vn
Vinci Concessions, a subsidiary of Vinci Construction France, has signed a cooperation agreement with Vietnam Expressway Corp. (VEC) to develop the highway network in the Southeast Asian country.
The partnership covers joint development of concession schemes for road infrastructures currently operated by VEC as well as technology exchange.
Under the agreement, VEC will sell to Vinci its operation rights of the Cau Gie – Ninh Binh expressway in northern Vietnam and the Ho Chi Minh City
– Long Thanh – Dau Giay highway in the southern region.
The cooperation agreement also focuses on construction, financing and operation by VEC and Vinci of new greenfield motorway projects involving the Vinci Group's concessions and contracting businesses.
The partnership with Vinci is expected to help VEC reach its goal of develop and operate 1,000 kilometers of expressways by 2020. VEC has invested some $6 billion in six projects with a combined length of 594 km.
Vietnam plans to build a national expressway network, including the 1,800 km North-South expressway, the country's backbone, in the public private partnership model.