Vietnam has sought additional funds from the World Bank (WB) for the Danang-Quang Ngai expressway project.

The 140km road project has a low level of financial efficiency, according to the Ministry of Transport, which has called upon WB to increase the proportion of its financing to mitigate risk of debt distress.

However, the main contractor of the project, Vietnam Expressway Investment and Development Corporation (VEC), has been urged to complete the environment impact study to meet the funding criteria.

Of the total investment, World Bank has committed $580m, Japan International Cooperation Agent will provide $725m and the rest of the $200m will come from the Vietnamese Government.

The project includes a 131.5km expressway running through two provinces and an 8.5km road, which is scheduled to be complete by next year.

The expressway will be built as a four-lane highway, allowing vehicles to travel at a maximum speed of 120km per hour.

South Korea-based Hashin Construction Company has been appointed by the VEC to construct 17.1km of traffic road running through Dong Nai province at a total cost of VND 1.139tn ($58m).