In the total of 57 BOT projects under the ministry’s management, 27 saw revenue increase compared to the financial plan in contracts in 2018 and 26 projects could not reach the financial plans. Only four projects have just been put into operation so it is unable to estimate revenue.
Some projects saw an increase in vehicles in traffic but revenue still dropped because the number of monthly and quarterly tickets highly increased. Aside from that, some projects have been forced to reduce toll level comprising Hanoi-Hai Phong Highway, National Highway 1A in Quang Nam province and Nam Cau Gie project.
According to the Ministry of Transport, commercial banks reported that 32 percent of BOT projects have seen toll collection and revenue not as expected. Their outstanding loans at these banks total VND43 trillion ($1.85 billion). This might lead to banks’ debt restructuring or deep debts.
By Bich Quyen – Translated by Hai Anh
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