VietNamNet Bridge – Vung Tau-based Hai Chau Co. has been given the five-year rights to a toll station on Highway 1A in the country's north, becoming the first private firm to win such rights.

In a contract signed last Saturday, Vietnam Expressway Corporation (VEC) transferred the toll collection rights to South Cau Gie station to Hai Chau.

In March, Hai Chau won the tender for toll collections to South Cau Gie with a bid of VND239.1bil (US$14.9mil), VND18mil (US$1,125) higher than the starting price.

Hai Chau is also the developer of Co May Bridge on Highway 51, which links HCMC with the southern coast province of Ba Ria-Vung Tau. As well, Hai Chau is the owner of a plant supplying clean water to industrial zones in the province, such as Cai Mep, My Xuan 1 and Phu My 1.

An official of the transport ministry told the Daily on Monday that Hai Chau was the first private company to take the ministry up on its three-year-old invitation to the private sector to take part in highway toll collection.

The transport ministry expects that the proceeds from auctioning off toll collection rights will help the ministry eliminate debt and finance new highway and expressway projects.

VEC said only Hai Chau attended the auction in March though VEC had advertised the tender, as a means to raise funds for developing Cau Gie-Ninh Binh Expressway, in 25 different publications.

In the meantime, no companies attended the auction for toll collection rights to Station 2 on Highway 1, which had a starting price of VND255.9bil (US$16mil).

The ministry plans to use the proceeds from two tenders to finance construction of Cau Gie-Ninh Binh Expressway, a 56-km road linking the northern provinces of Ha Nam, Ha Tay, Nam Dinh and Ninh Binh.

In 2004, the Vietnam Road Administration did not find any contractors in the auction of toll collection rights to Highway 5 - linking Hanoi, Hung yen, Hai Duong and Hai Phong in the north - and on Highway 51 - connecting HCMC with Ba Ria-Vung Tau in the south.

(Source: SGT)