The 40 km expressway will run between the provinces of Tuyen Quang and Phu Tho. With four lanes allowing speeds up to 80 kilometers per hour, it will run south from Luong Vuong Commune in Tuyen Quang Town and end at an intersection with the existing Noi Bai – Lao Cai Expressway.

The expressway will be built under a build-operate-transfer (BOT) model, with VND2.76 trillion ($119 million), or 84 percent, coming from a private company, and the rest from state and provincial coffers.

The investor, who will be selected via a bidding process, will be allowed to collect toll for 19 years, from 2023 to 2042, to recoup investment.

The expressway is set to run alongside the existing National Highway 2, which is overloaded and a site of frequent traffic accidents.