The Cao Bang Provincial People’s Committee and a consortium of investors signed an agreement on February 24 on investment cooperation in the Dong Dang - Tra Linh Expressway project, which will be built under the public-private partnership (PPP) model.

The consortium includes the Deoca Group, the PHUMY Group, the Thanh Loi Investment Construction Company Limited, and the Van Phu - Invest Investment Joint Stock Company (VPI). The project has total investment of VND13.18 trillion ($576.15 million) in the first phase (2021-2025). State budget capital will total VND6.58 trillion ($287.1 million), including VND2.5 trillion ($109 million) from the central budget and VND4.08 trillion ($178.1 million) from the local budget, together with investor capital of VND1.23 trillion ($53.6 million) and other mobilized capital of VND5.32 trillion ($231.9 million).

Investors will mobilize capital in the form of bank loans, bonds, and a business cooperation contract (BCC). The consortium commits to contributing VND2.68 trillion ($117.2 million) to the BCC for implementation.

The starting point is at the intersection of the highway connecting Huu Nghi - Chi Lang with the Tan Thanh border gate and the Coc Nam border gate in Lang Son province, while the endpoint is at the Tra Linh border gate area in Cao Bang province. According to Mr. Hoang Xuan Anh, Chairman of the Cao Bang Provincial People’s Committee, the expressway will create a new growth engine for Cao Bang.