Lam Dong Reviews Nearly US$400 Million Coastal Road Project in Phan Thiet

The proposal was discussed on May 26 during a working session chaired by Vice Chairman of the Lam Dong Provincial People’s Committee Nguyen Hong Hai.

Strategic coastal corridor planned for the 2026–2030 period

According to the Lam Dong Department of Finance, the central coastal road in the Phan Thiet area has been included in the province’s list of key infrastructure projects for the 2026–2030 period.

The route is expected to form a modern coastal transport corridor, expand urban development space, promote tourism and service industries, and improve the efficiency of coastal land use.

Under the proposal submitted by the investor consortium, the road would stretch approximately 14.6 kilometers, beginning at the DT.706B roundabout in Phu Thuy and ending at the DT.719 route in Tien Thanh.

The project is designed as a six-lane urban arterial road with a maximum design speed of 80 kilometers per hour.

Two major bridge structures — Ca Ty Bridge and Phu Hai Bridge — are also planned along the route, serving both transportation and architectural landscape functions for the coastal area.

PPP-BT model proposed for financing

The project’s preliminary investment capital is estimated at approximately VND 10 trillion, including construction costs, site clearance, contingencies and related expenditures.

After reviewing investment options, the Department of Finance concluded that the Build-Operate-Transfer (BOT) model would not be suitable, as the project primarily serves urban development, tourism and landscape enhancement, making toll-based capital recovery difficult.

Authorities also determined that the Build-Lease-Transfer (BLT) model was incompatible with the project’s characteristics.

Instead, the department proposed a Public-Private Partnership (PPP) under a Build-Transfer (BT) contract model, which would allow investors to mobilize capital while facilitating the efficient exploitation of reciprocal land funds.

Investor consortium pledges resources

At the meeting, representatives of the investor consortium — including CC1 Asset Management and Services Co., Construction Corporation No.1 JSC (CC1), and Construction and Design No.1 JSC — introduced their experience in implementing major infrastructure projects.

The consortium also pledged to dedicate sufficient financial and operational resources to carry out the project if investment approval is granted.

Provincial leaders emphasize urgency and coordination

Speaking at the meeting, Vice Chairman Nguyen Hong Hai stressed that the Phu Thuy – Phan Thiet – Tien Thanh coastal road would play a significant role in expanding urban space, boosting tourism and services, and strengthening coastal infrastructure connectivity.

According to provincial leaders, the project involves large-scale investment, multiple sectors and high technical and architectural requirements, particularly for the two key bridge structures planned along the route.

As a result, implementation will require synchronized coordination across agencies and stakeholders to ensure project timelines are met.

Nguyen Hong Hai assigned the Department of Construction to work with investors to finalize a detailed implementation roadmap and schedule in early June 2026.

Based on that timeline, investors are expected to provide concrete commitments regarding financial capacity, available resources and project execution deadlines.

The Department of Construction will continue consolidating feedback from provincial departments and agencies before advising the Provincial People’s Committee on the next steps toward review and approval of the investment policy.