Hong Kong-based First Pacific and Philippine arm Metro Pacific Investments (MPIC) are looking at participating in the project which will be Vietnam’s first PPP and involves the construction of a $750m toll road.
Rodrigo Franco, president and chief executive officer of MPIC’s Manila North Tollways Corp, said First Pacific is looking at the motorway in partnership with MPIC .
“It is really a First Pacific initiative. MPIC is looking for projects overseas but in tandem with First Pacific,” Franco said.
The 100-km four-lane Dau Giay-Phan Thiet motorway will connect the key southern cities of Ho Chi Minh City and Phan Thiet and will is seen as a critical link in the national north-south transport route.
The project is being supported by the World Bank as well as the Vietnamese government and private partner Bitexco Group.
The Bitexco Group would hold 60% equity in the project while the rest would be contributed by the government and other private investors. The shareholders would be given a 30-year concession.