Highway Construction in Vietnam
Lotte Engineering & Construction said on Jan. 14 that it has won a US$54 million (63.7 billion won) order to build a highway in Vietnam.
The order is placed by the Cuu Long Corporation for Investment Development and Project Management of Infrastructure (Cuu Long CIPM) under the Ministry of Transport in Vietnam. It calls for Lotte E&C to build the LoTe-Rach Soi Expressway that connects Can Tho city to Kien Giang in the southwest of Vietnam. The South Korean builder will work with Halla Corporation and Hanshin Construction as a joint venture.
Out of two sections of 51 kilometers in total funded by the Economic Development Co-operation Fund (EDCF) from the Export-Import Bank of Korea, Lotte E&C will work on the 24.17 kilometer stretch of the two-lane highway. Construction should be completed in 30 months after work begins on Jan. 17.
Once the project is completed, transportation infrastructure will be secured in the Mekong Delta, the most productive agricultural area and the third largest industrial center in Vietnam.
Meanwhile, Lotte E&C completed Lotte Center Hanoi, the landmark in Hanoi, the capital of Vietnam, and Yen Vien-Lao Cai Railway upgrading project in Northern Vietnam. Currently, the company is building A4 and A1 sections of the Da Nang-Quang Ngai Expressway in central Vietnam.