Vietnam will build a 1.5-billion-dollar highway from the capital Hanoi to the northern port of Haiphong, adding a vital link to a transport corridor with southern China, a media report said Thursday.
Work is due to start in May for the 105.5 kilometer (65.5 mile) six-lane tollway set to be completed by 2011, the Tien Phong (Pioneer) newspaper said.
The state-owned Vietnam Infrastructure Development and Financial Investment Corp will build the road link, which will displace some 7,700 residents, according to a company official quoted in the report.
Vietnam, which saw 8.5 percent economic growth last year, is building new infrastructure to ease bottlenecks and better integrate its transport system with China and its Southeast Asian neighbours.
The Asian Development Bank (ADB) in December approved its largest ever single-project loan, worth 1.1 billion dollars, for a four-lane highway that will cut travel time between Hanoi and Kunming in southern China.
The highway, to be completed by 2012, will link the factories and farms of China's Yunnan province with Hanoi and Haiphong and is expected to boost two-way trade and economic development in northern Vietnam.
The ADB on Thursday also announced a regional loan of 165 million dollars, co-financed by Australia and South Korea, to improve highways, bridges and border facilities linking Vietnam and Cambodia. afp
Work is due to start in May for the 105.5 kilometer (65.5 mile) six-lane tollway set to be completed by 2011, the Tien Phong (Pioneer) newspaper said.
The state-owned Vietnam Infrastructure Development and Financial Investment Corp will build the road link, which will displace some 7,700 residents, according to a company official quoted in the report.
Vietnam, which saw 8.5 percent economic growth last year, is building new infrastructure to ease bottlenecks and better integrate its transport system with China and its Southeast Asian neighbours.
The Asian Development Bank (ADB) in December approved its largest ever single-project loan, worth 1.1 billion dollars, for a four-lane highway that will cut travel time between Hanoi and Kunming in southern China.
The highway, to be completed by 2012, will link the factories and farms of China's Yunnan province with Hanoi and Haiphong and is expected to boost two-way trade and economic development in northern Vietnam.
The ADB on Thursday also announced a regional loan of 165 million dollars, co-financed by Australia and South Korea, to improve highways, bridges and border facilities linking Vietnam and Cambodia. afp