CII Plans VND 27,094 Billion Borrowing for Expressway Expansion
This Aveluro analysis covers CII on HOSE in the Construction & Materials sector. The classified event type is capital raise, with neutral sentiment and a deterministic market-impact score of 8.4/10. Source coverage came from CafeF - Thị trường chứng khoán, classified as a primary/top-tier source.
Key Facts
Caveat: Not investment advice. · How Aveluro computed this: Aveluro combines extracted event facts, source credibility, ticker context, and market data. Scores are deterministic research signals, not recommendations.
Overview
CII (HOSE: CII) announced a plan to borrow up to VND 27,094 billion (approximately USD 1.08 billion) through its subsidiary BOT Saigon - My Thuan to fund the expansion of the Ho Chi Minh City - Trung Luong - My Thuan expressway under a BOT contract. The project, with a total investment of VND 36,172 billion, will be fully financed by the investor consortium led by CII.
Key Facts
- CII’s board approved borrowing up to VND 27,094 billion on July 13, 2026.
- The borrowing is through CII’s subsidiary BOT Saigon - My Thuan, in which CII holds 55% voting rights (40% direct, 15% indirect via CII Service).
- The project expands the HCMC-Trung Luong-My Thuan expressway over 96 km, from Cho Dem intersection to the north of My Thuan 2 bridge.
- Total project investment is VND 36,172.41 billion, 100% funded by investors.
- The investor consortium includes CII, Deo Ca Group, Tasco, Hoang Long, and CII Service.
- The HCMC-Trung Luong section will widen from 4 to 8 lanes, while Trung Luong-My Thuan will expand from 4 to 6 lanes.
- The BOT contract (No. 60/HĐ.BOT-CĐBVN) was signed on December 8, 2025.
What Happened
On July 13, 2026, CII’s Board of Directors passed Resolution No. 198/NQ-HĐQT approving a borrowing plan of up to VND 27,094 billion for its subsidiary BOT Saigon - My Thuan. The funds will finance the expansion of the HCMC-Trung Luong-My Thuan expressway under a BOT contract signed with the Ministry of Construction.
The project was approved by the Ministry of Construction in February 2025 under Decision No. 2166/QĐ-BXD. The expressway expansion spans over 96 km, with the HCMC-Trung Luong segment widened to 8 lanes (future 10-12 lanes) and the Trung Luong-My Thuan segment to 6 lanes. The project includes intelligent transportation systems, toll stations, and rest stops.
Market Context
CII shares closed at VND 16,500 on July 14, 2026, on the HOSE. The company is a key player in Vietnam’s infrastructure sector, particularly in BOT transport projects. The massive borrowing plan underscores CII’s aggressive expansion strategy, which may raise concerns about leverage but also positions it to benefit from growing traffic demand in the Southern Key Economic Zone.
Strategic Significance
This project strengthens CII’s position as a leading BOT investor in Vietnam’s expressway network. The expansion addresses chronic congestion on a vital corridor linking HCMC with the Mekong Delta. By leading a consortium with established partners like Deo Ca and Tasco, CII diversifies project risk while securing a long-term revenue stream from toll collection. The full investor financing model avoids direct government budget outlay, aligning with Vietnam’s PPP policy.
What to Watch
- Progress on financial closure and disbursement of the VND 27,094 billion loan.
- Construction milestones and timeline for the expressway expansion.
- Traffic volume and toll revenue projections for the expanded route.
- CII’s debt-to-equity ratio and interest coverage in upcoming quarterly reports.
- Any regulatory changes affecting BOT toll collection or PPP frameworks.