Why Dak Lak transferred 220 billion capital for Khanh Hoa expressway?

On May 25, the Dak Lak Provincial Project Management Board for Investment in Construction of Transport Works and Rural Development (PPMB) announced that the Provincial People's Committee has just decided to adjust the central budget investment plan (domestic capital) in 2024 (phase 1).

Dak Lak decided to transfer 220 billion VND of capital from Khanh Hoa - Buon Ma Thuot expressway to the project of upgrading Provincial Road 1. (Photo: Ngoc Hung)

Accordingly, the Provincial People's Committee agreed to transfer 220 billion VND of capital from component project 3, part of the Khanh Hoa - Buon Ma Thuot expressway construction investment project phase 1 to the project of Upgrading and Renovating Provincial Road 1, section from Buon Ky bridge, Buon Ma Thuot city to Km 49+00.

Specifically, according to the 2024 capital plan (Central budget), the allocation for the Khanh Hoa - Buon Ma Thuot expressway project is 1,120 billion VND. The Provincial People's Committee decided to reduce 220 billion VND to adjust to the construction of Provincial Road 1.

The Dak Lak Provincial People's Committee requested the Provincial State Treasury to ensure capital sources for payment for projects when disbursement conditions are met, closely coordinate with investors to handle arising problems, and shorten the time for controlling expenditures.

According to the investor, after the decision to adjust the capital plan for Provincial Road 1, the Board urged the contractors to focus on speeding up the project progress and completing it according to plan. At the same time, payment for the remaining construction volume to the contractors was made.

As reported by Giao Thong Newspaper, the project to renovate and upgrade Provincial Road 1, the section from Buon Ky Bridge, Buon Ma Thuot City to Km 49+00 is one of the key projects of Dak Lak province with a total investment of 1,053 billion VND. The project implementation period is from 2021 to 2025.

However, by 2024, the project has been allocated a total capital of 550 billion VND/3 years (accounting for 47.77% of the total investment, the remaining capital in the final year of project implementation is 503 billion VND).

In 2024, the capital plan allocated for the project is 100 billion VND (central budget source). By January 31, 100% of the plan has been disbursed.

Currently, the value of completed volume awaiting acceptance and payment is still about 90 billion VND, the construction unit is no longer able to continue implementation in the near future. Currently, the contractor is holding back waiting for payment for the volume, which has directly affected the overall progress of the project, not ensuring the proposed plan.

In early February 2024, the Project Management Board sent a document requesting the transfer and addition of the 2024 plan of central budget capital for the project, but it has not been arranged yet.

As of April 16, the project has not yet received additional capital. The investor has sent a document requesting the Dak Lak Provincial People's Committee to temporarily suspend the project until the project receives capital.

Source: https://www.baogiaothong.vn/vi-sao-dak-lak-dieu-chuyen-220-ty-von-cao-toc-khanh-hoa-buon-ma-thuot-192240525173907294.htm