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Friday, July 30, 2021

Transport Ministry seeks State capital for Ca Pass Tunnel project

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HCMC – The Ministry of Transport has proposed the prime minister allocate VND1.18 trillion from the State budget for the Ca Pass Tunnel project.

According to the ministry, the project, including the construction of tunnels passing through the Ca, Co Ma, Cu Mong and Hai Van passes, is a key national one and has been put into service, Thanh Nien Online newspaper reported.

The expansion of the Hai Van Pass Tunnel is the last part of the project, whose safety and quality have been confirmed by the State Council for Acceptance of Construction Works.

The Ministry of Transport is coordinating with the investor of the project to complete procedures to put the project to expand the Hai Van Pass Tunnel into operation late this month.

However, obstacles to the project’s financial plan have yet to be tackled, affecting the fund for operating and maintaining the pass tunnels and repayment of bank loans.

Since 2018, the prime minister has ordered the removal of obstacles facing the project. The Ministry of Transport has cooperated closely with the investors and the relevant ministries and agencies to propose solutions to the prime minister.

As for the fund of VND1.18 trillion that the State had earlier committed for the project but has yet to disburse, the ministry last year came up with a plan to allocate the capital from the medium-term public investment plan for 2020 and submitted it to the prime minister.

In September this year, the ministry suggested the prime minister approve the allocation of VND50 billion sourced from the reserve fund for the project. The remaining would be sourced from the medium-term public investment plan for the 2021-2025 period.

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