The projects contribute to creating an attractive business environment for both domestic and international investors, as well as enhancing provincial and regional links, with PPP investment, helping reduce financial pressure on the State Budget and mobilise resources from the private sector.
Prime Minister Phạm Minh Chính meets local people in the area of the Nam Định-Thái Bình Expressway and Hưng Phú Industrial Park in Thái Bình Province. — VNA/VNS Photo
The province of Thái Bình has a long history and well-established culture, especially in terms of a revolutionary tradition, but it is not yet rich, said Prime Minister Phạm Minh Chính.
So it is necessary to develop transportation and industry, Chính said on Monday, as he attended the ground-breaking ceremonies for the Ninh Bình – Hải Phòng Expressway Project (section passing through Nam Định and Thái Bình provinces) and the Hưng Phú Industrial Park in Thái Bình Province.
Speaking at the event, the PM told of his concerns from the beginning of his term and how he came to the decision to build an expressway, removing traffic bottlenecks, connecting the provinces and cities of Ninh Bình, Nam Định, Thái Bình and Hải Phòng, and airports, seaports and border gates. The improved infrastructure will contribute to promoting the development of these provinces and cities, neighbouring localities, the entire Red River Delta region, and the Kunming – Hà Nội – Hải Phòng economic corridor.
The Ninh Bình – Hải Phòng Expressway section passes through Nam Định and Thái Bình provinces and has total length of 60.9km, starting at the Đáy River flyover in Nam Định Province’s Nghĩa Hưng District and ending at intersection of National Highway 37 and coastal road in Thái Bình Province’s Thái Thụy District.
The expressway is designed for speeds of up to 120km per hour and has four lanes, crossing a total 23 bridges, four flyovers and seven intersections. Investment comes in the form of public-private partnership (PPP) including the Thái Bình People’s Committee, and joint venture investors of Geleximco – Vinaconex – Phương Thanh Tranconsin – Naso CO – Hoàng Cầu IIC.
This is, so far, the biggest single PPP transport project, with investment capital of over VNĐ19.7 trillion (US$761.7 million), of which capital from State budget is VNĐ6.2 trillion ($238.7 million), capital for land clearance and relocation is VNĐ3.1 trillion ($122.1 million), and share of investors is VNĐ10.4 trillion ($402.7 million).
The three-year project is scheduled to be completed in 2027 and put into operation in 2028.
Hưng Phú Industrial Park, located on a 209ha area in Nam Hưng Commune of Thái Bình Province’s Tiền Hải District is invested with over VNĐ2.3 trillion ($88.5 million) by Geleximco Company.
The park is strategically located with superior connectivity advantages, adjacent to the coastal road and Thái Bình – Cồn Vành road, connecting to the transportation network to Nội Bài, Cát Bi and Vân Đồn international airports, international seaports in Hải Phòng and border gates in Quảng Ninh Province.
Hưng Phú is oriented to be a multi-sectorial hi-tech industrial park focusing on industries of mechanical engineering, automobile assembly, high technology, processing, logistical services and high-end construction materials, in particularly being the driving force project of the GEL-O&J Automobile Factory.
PM Chính said that the implementation of Ninh Bình – Hải Phòng Expressway and Hưng Phú IP reflects the Party’s guidelines on infrastructure development, one of three strategic breakthroughs on transport development.
The projects contribute to creating an attractive business environment for both domestic and international investors, as well as enhancing provincial and regional links, with PPP investments helping reduce financial pressure on the State budget and mobilising resources from the private sector.
The PM thanked the local people who handed over their land for the projects.
He asked relevant parties to quickly complete the necessary procedures to meet the schedule and ensure that all work is of high quality.
The province was directed to develop a plan to effectively exploit the expressway and study the sea encroachment plan.
Ministries of Construction, Finance, and Agriculture and Environment were asked to closely monitor and provide timely assistance to Thái Bình Province to implement the projects.
Relevant ministries and agencies have to simplify administrative procedures and closely co-ordinate with the local governments to solve difficulties arise.
Investors and contractors have to commit to meet the project deadlines, ensure quality and cost-effectiveness.