In the morning of 20/11, Ocean Group and investor partnership together with BOT Hanoi – Bac Giang Investment JSC signed an credit agreement with Vietcombank, Vietinbank and LietViet Post Bank to finance the capital for the project of investment, construction, renovation and upgrading Highway 1, Hanoi – Bac Giang section in the form of BOT agreement.
The project is invested mainly by Ocean Group with the contributed capital up to 41%. This is a project approved by Decision No. 113 / QD-BGTVT on 10th Jan 2014 of Ministry of Transportation, according to the socialization method, showing the correctness of the State’s policy, in order to meet the increasing transport needs, improve the mining conditions, reduce congestion and traffic accidents on Highway 1, Hanoi – Bac Giang Section.
Mr. Le Quang Thu, Representative of Partnership and BOT Company signed with an agreement with the banks
During the ceremony of signing an agreement of capital financing, Mr. Nguyen My Hao – Director of Vietcombank Transaction Center said that the credit agreement was signed with the co-financing loan of 3,658 billion VND, and committed to support, timely supply the investors with the capital to complete the project on schedule, contributing to the development of road infrastructure, to meet the travelling needs of the people.
According to Le Quang Thu – Chairman of the BOT Hanoi – Bac Giang Investment JSC, “when completing the project, it will not only contribute to reducing traffic accidents in the province, ensuring security and defense, but also is the dynamics of socio-economic development of Hanoi capital, two provinces such as Bac Ninh, Bac Giang and northern region economy in general”.
The project has a total length of 45.8 km with a total investment of more than 4 trillion VND, which was commenced on 22/02/2014 and is scheduled for completion in March 6/2016. In the last ten months, Ocean Group & the partnership with BOT Hanoi – Bac Giang Investment JSC has signed a formal contract with the Ministry of Transportation of this project.