HO CHI MINH, Vietnam—Ho Chi Minh City Infrastructure Investment Jsc (CII) is asking Metro Pacific Investments Corp. for an additional $50 million in investments to finance two road projects here.
Nguyen Van Binh, an investment manager at CII, said his group is spending $300 million to expand the Binh Trieu Bridge and the Hanoi Highway in the next few years. For this, the Vietnamese company will need Metro Pacific Tollways Corp. (MPTC) to invest about 16.67 percent of the total amount to partially fund the deal with the government. “MPTC will have to invest $50 million more for the Hanoi Highway Expansion Project and Binh Triue 2 Bridge Project,” Nguyen told reporters in a media briefing here over the weekend. “That is the plan, but we will still be discussing this with MPTC.”
He said the expansion Binh Trieu Bridge involves the construction of an additional lane from two to three with a bridge deck width of 12.6 meters, particularly the section adjacent to the Ung Van Khiem road and the War Memorial intersection. It will cost about $100 million.
It is seen to further relieve traffic pressure in key areas that lead to the eastern and central provinces in Vietnam. The $200-million Hanoi Highway expansion involves the addition of four lanes for both eastward and westward corridors, totaling eight lanes for each direction. It is set to be completed by end-2019.
Currently, MPTC owns 45 percent of CII Bridge and Roads Investment Co., a subsidiary of CII.
Rodrigo E. Franco, MPTC president, said that, while his group has yet to finalize its plans for Vietnam, the company is studying the business plans of partner CII. “They are executing their business planning. They are pursuing their investments. We have projects that you will see underway,” he said.
CII Bridge and Road holds the concession for seven projects in Vietnam.