Vietnam plans new roads for Hanoi city

Funding from South Korea will help finance work on a key road link for the Vietnamese city of Hanoi. The state-run 1290 Export-Import Bank (EXIM) of Korea will provide loans worth up to US$200 million to build the 17.85km road, which will connect Hanoi to a nearby industrial area. The four lane road will link the Nhon Trach industrial complex with Ho Chi Minh (HCM) City. The EximBank’s economic development cooperation fund is supplying the loans. In all the road project is likely to cost some $430 million, with private sources providing the remainder of the sum necessary. The project will be a public-private partnership.