20230626 Expressways, take me home...
A- Transport
Commencement of Ring Road 4 - Hanoi Capital Region and Cao Lanh - An Huu Expressway
On the morning of June 25, 2023, the groundbreaking ceremony of Ring Road 4 - Hanoi Capital Region and Cao Lanh - An Huu Expressway. Prime Minister Pham Minh Chinh attended and pressed the button to start these two important transport projects.
Landslide, damage to Cam Lo - La Son highway surface
Besides the quality of the road surface, landslides threaten traffic safety, Cam Lo - La Son expressway also creates psychological inhibition for vehicle drivers when the travel speed always fluctuates from 40 - 60 km/h because of the narrow road surface, two-way traffic and continuous yellow lines (prohibit passing in the same direction). Vehicles that want to overtake must wait to the designated area (about 3 - 4 km, about 500 m - 1.5 km will be arranged for passing vehicles).
The Ministry of Transport accelerates the Khanh Hoa - Buon Ma Thuot Expressway Project Phase 1
The document clearly states that, following the direction of the Government, the Prime Minister, the Ministry of Transport coordinated with the People's Committees of Khanh Hoa and Dak Lak provinces and related agencies to start the project on June 18, 2023. In order to meet the project implementation schedule, the Ministry of Transport requested the units to accelerate the completion, submission and approval of technical designs and estimates.
Nam Dinh: The canal connecting the Day and Ninh Co rivers is about to go into operation
Cluster of canal works connecting Day river and Ninh Co river is a part of WB6 project, implemented in Nghia Son and Nghia Lac communes, Nghia Hung district, Nam Dinh province with an investment of 100 million USD. The project broke ground on November 19, 2020, digging a canal about 1 km long, 90-100m wide connecting the Day River and Ninh Co. This canal is designed for cargo ships of 2,000 tons and 3,000 tons to reduce traffic, helping to develop water transport from the coast through Ninh Co River to Day River and vice versa.
Ca Deo proposes to invest in tourism development route in Quang Binh province
The project consists of 3 routes with a total investment of about 2,387 billion VND with a total length of about 24 km. Specifically, route 1 is about 10 km long, including upgrading coastal roads. Route 2, about 11 km long, will renew the route connecting the coastal road with the Ho Chi Minh road and the North-South expressway. Route 3 is about 3 km long, will upgrade provincial road TL.567 (section Km8+700 - Km11+700) connecting with the coastal road.
B- Energy
Ministry of Industry and Trade urges progress of 13 LNG gas thermal power projects
At a meeting on June 24 between the leaders of the Ministry of Industry and Trade and the provinces with power plant projects using LNG in the Power Plan VIII, Minister of Industry and Trade Nguyen Hong Dien requested to speed up the preparation and submission of feasibility study reports for power plants using LNG, striving for completion in the 4Q2023.
Vietnam Airlines wants to sell Skypec, Government asks to handover to PVN
In the concluding notice on June 23 of the Government Standing Committee at a meeting with the Committee for Management of State Capital at Enterprises (CMSCE) and 19 groups and corporations , the Government Standing Committee requested CMSCE to handle the transfer of Aviation Fuel Company (Skypec) from Vietnam Airlines (HVN) to Vietnam Oil and Gas Group (PVN).
T&T Group 'shake hands' with Korean partners to develop LNG and hydrogen projects in Vietnam
T&T Group and Korea Gas Corporation (KOGAS) will cooperate to develop LNG gas power projects in Vietnam, and convert coal power projects already in the Power Plan VIII to LNG.
Previously, at the beginning of 2022, the investor consortium including T&T Group, KOGAS, KOSPO and HANWHA (Korea) officially kicked off the technical component of Hai Lang LNG power center project phase I - 1500 MW with a total investment of nearly 54,000 billion VND in Quang Tri province. According to the plan, the project will come into commercial operation in 2026 - 2027.
Also within the framework of the Vietnam-Korea Business Forum, T&T Energy - a member of T&T Group and SK E&S, an energy company of SK Group (Korea) signed a memorandum of understanding on cooperation in the field of technology for LNG power.
VinaCapital and GS Energy Partner with KEXIM in Long An LNG power plant projects
Vinacapital, an asset management group in Vietnam, and GS Energy, a South Korean company, have inked an MoU with Export-Import Bank of Korea (KEXIM) to facilitate the financial development of the Long An I and II liquefied natural gas power plant projects.
There have been 70/85 transitional renewable power projects to commercial power generation
As of June 23, there were 70/85 transitional renewable energy projects with a total capacity of 3,851 MW submitted for price negotiation. Commercial power output of 11 projects is 54.47 million kWh.
C- Water and sanitation
Darco Vietnam clean water supply project commences operations
On 17 Jun 2023, Darco and InfraCo Asia jointly organised a grand opening ceremony of Darco Ba Lai water treatment plant to announce its commencement of operations. It will supply 5,000m3/day of clean water for up to 20,000 rural households. Upon completion of the second phase construction of the project in 2024, the plant will supply 15,000m3 of clean water a day to more households and industrial areas in Ba Tri township and region of 15 communes in Ben Tre province.
The design-build-own-operate (DBOO) project is a joint venture (JV) with InfraCo Asia, a commercially managed infrastructure development and investment company of Private Infrastructure Development Group (PIDG).
Quang Tri inaugurated the project to upgrade Tan Luong clean water plant
The project of Renovating and upgrading Tan Luong Water Plant with a capacity from 15,000 m3/day to 28,500 m3/day has just been completed with a total investment of 74 billion VND.
D- Digital infra
VNPT Group reserves more than40% international Internet capacity
VNPT said that it is working closely with undersea cable management units to speed up the repair of the APG undersea cable route. It is expected that in June, the APG route will be repaired, contributing to strengthening VNPT's capacity and raising the reserve rate of international internet capacity of VNPT to 60%.
E- Social infra
Ministry of Construction: 121 real estate projects have been cleared of obstacles
According to Deputy Minister of Construction Nguyen Van Sinh, 71 documents reporting difficulties, problems and recommendations related to 121 real estate projects have been handled and resolved.
Currently, the Ministry of Construction has also submitted amendments to decrees in the field of State management of the Ministry related to problems and procedures of the real estate market. Over the past time, the working group has worked with localities to review projects, of which Ho Chi Minh City reviewed 180 projects, Hanoi reviewed 170 projects, Da Nang reviewed 75 projects, Hai Phong reviewed 65 projects, Can Tho reviewed 79 projects...
Real estate M&A: Buyers force prices, sellers regret, the 'blockbuster' has not been completed
The reason comes from the fact that during the negotiation process, the buyer with the advantage of cash flow often bargains "hard", just wants to buy at a low price and prioritizes clean legal projects with good location, potential in the future with the selling price reduced by 10% - 20%. Meanwhile, it is difficult for domestic enterprises to accept to sell assets at cheap prices after having spent a lot of effort and expense on land clearance, projects, and legal implementation.
Vacant office for rent in Ho Chi Minh City increased to a record level
Knight Frank has just reported on the office rental market in Ho Chi Minh City. Accordingly, the market witnessed a record vacancy rate of 29% in the Grade A office segment by the end of this year. This is a consequence of the increase in supply in the second half of 2023.
Novaland restarts Aqua City Dong Nai project
On the morning of June 23, Novaland, VPBank, Ricons and many contractors signed a cooperation agreement to restart the Aqua City project in River Park 2, Phoenix Central 1, and Phoenix North 5 subdivisions in Bien Hoa Dong Nai.
Khanh Hoa invests in the project of a specialized stroke hospital in Nha Trang
Khanh Hoa is urgently completing the procedures related to the investment and construction of the Stroke Hospital Project in Nha Trang.
F- Technical infra
Quang Ninh is about to have a large-scale liquid cargo port
Accordingly, the People's Committee of Quang Ninh province has just approved the Yen Hung Liquid Port Joint Stock Company to invest in the construction project of Yen Hung Liquid Cargo Port on the banks of the Chanh River, in Bac Tien Phong Industrial Park, Quang Yen town. The project has a total capital of about 740 billion VND.
The investor will build a specialized berth system for import and export of liquefied petroleum gas and petroleum products, with a total length of 426m, anchored on both sides, meeting the size of liquid cargo ships up to 50,000 DWT in on the outer side (considered in a later stage, it can accommodate liquid cargo ships up to 100,000 DWT) and ships up to 2,000 DWT on the inner side. There is also an accompanying technical infrastructure system…
Completed 7 wharfs and opening of container handling services at Long An International Port
On June 24, 2023, Long An International Port officially joined 07 berths and opened container handling services. This is a key project of Dongtam Group, with a total investment capital of more than 500 million USD