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BOT My Loi Bridge suddenly raised fees

BOT image of My Loi bridge

In the context of the BOT stations are reacting drastically because of fees in the wrong location, high fees, My Loi Bridge Investment Limited Company – investor BOT project to build My Loi Bridge, National Highway 50 Suddenly asked  Ministry of Transport (MOT) to adjust, increase service charges using the road.

In the text sent to Ministry of Transport, My Loi Bridge Investment Limited Company said that since the construction of My Loi Bridge was put into operation (October 2015) to date, the flow and turnover of toll fee Not reaching the initial financial plan signed with the competent state agency. This causes the investor to face a lot of financial difficulties during the operation of the toll collection.

BOT image of My Loi bridge
BOT image of My Loi bridge

Specifically, My Loi Bridge Investment Limited has been compensating for losses on bank loans since the completion of the project until 30 June 2018 with the accumulated amount after 186 years copper.

In addition, pursuant to Clause 5, Article 50 of the BOT Contract for Construction of the My Loi Bridge Project, the project enterprise may request the adjustment of the service charge for road use every 3 years ( from November 13, 2018 to November 13, 2018), each increase of 18% at the My Loi Bridge toll gate.

For the two reasons above, the investor approved the Ministry of Transport’s approval of the service fee adjustment with an average increase of 18% starting from November 13, 2011.

According to the design, My Loi Bridge has a length of 2.69 km, connecting Tien Giang and Long An with total initial investment of over VND1,438 billion, with a payback period of 44 years and 6 months.

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BOT My Loi Bridge suddenly raised fees
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