The Saigon - My Thuan Expressway BOT Co., Ltd (the project enterprise) and a consortium of six banks have officially signed a syndicated credit agreement to fund the Ho Chi Minh City – Trung Luong – My Thuan Expressway expansion project.
The credit facility, totaling VND27.094 trillion (approx. $1.03 billion), secures the necessary capital to ensure the project stays on schedule.
The lending consortium includes Vietcombank as the lead arranger, alongside VietinBank, BIDV, Agribank, TPBank, and VPBank. According to the participating parties, this represents the largest credit financing ever granted to a transport project under the Public-Private Partnership (PPP) model in Vietnam.
Speaking at the signing ceremony on July 16, Deputy Minister of Construction Bui Xuan Dung emphasized that the completion of the credit agreement is a major milestone, providing the financial foundation to move the project forward according to the planned timeline.
The Deputy Minister noted that expanding the HCMC – Trung Luong – My Thuan Expressway is an urgent requirement to alleviate severe congestion on the route. The expansion aims to enhance traffic safety, reduce logistics costs, improve regional competitiveness, and create more development opportunities for the Mekong Delta.
Since Phase 1 of the Trung Luong – My Thuan section was put into operation, traffic volume has peaked at over 60,000 vehicles per day. This significantly exceeds the original design capacity, making the expansion an immediate priority.
The HCMC – Trung Luong – My Thuan Expressway expansion project has a total investment of VND36.125 trillion (nearly $1.4 billion). It is being implemented via the PPP model and notably involves no state budget funding.
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