BOT National Road 6 case: Warning over contractors’ weak capacityThe investors’ failure to acquire enough capital for construction works on a critical highway connecting Hà Nội and northern localities has threatened to derail the project, once again calling into question the viability of the Build-Operate-Transfer (BOT) model.With increasing demands for socio-economic infrastructure investment, the Government’s constrained budget requires partnerships with private investors.However, in the face of the investor’s violations, on January 31, transport minister Nguyễn Văn Thể issued an ultimatum that the investor must fulfill the contract signed with the ministry, or the contract would be terminated within 10 days.The ministry’s hard-line move is considered too little too late as the project is already a year behind schedule.The Hoà Lạc – Hoà Bình BOT project (National Road 6) has total investment of nearly VNĐ 3 trillion (US$131.2 million) via a joint-venture between the defence ministry’s Corporation 36 and two private companies, Thành Lộc Construction JSC and Hà Nội Investment and Trade JSC.The project comprises two components, building the 25.7km of Hòa Lạc – Hoà Bình highway and upgrading the 30.6km Xuân Mai – Hoà Bình section of National Road 6. The latter component was completed in 2015 April and toll… Read full this story
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