--- title: Deo Ca Tunnel 2 on Hoa Binh Moc Chau Expressway 2026 description: Deo Ca completed 78.7% of tunnel 2 on October 30, 2026, and the Hoa Binh Moc Chau expressway in Son La disbursed 45.77% of 2026 capital as of October 25, 2026. url: https://ginity.vn/en/blog/deo-ca-hhv-tunnel-construction-hoa-binh-moc-chau canonical: https://ginity.vn/en/blog/deo-ca-hhv-tunnel-construction-hoa-binh-moc-chau markdown: https://ginity.vn/en/blog/deo-ca-hhv-tunnel-construction-hoa-binh-moc-chau.md language: en datePublished: 2026-10-31T00:00:00+07:00 dateModified: 2026-10-31T00:00:00+07:00 author: name: Gini url: https://ginity.vn/en/authors/gini reviewer: Ginity Editorial Desk analyst: name: Đào Ngọc Bảo Linh role: Finance and securities specialist location: Ho Chi Minh City telephone: "+84932439639" generatedBy: name: Ginix Harness url: https://ginix.vn desk: id: equity name: Companies & sectors url: https://ginity.vn/en/topics/equity tickers: - HHV sources: [] publisher: Ginity attribution: 'Source: Ginity (ginity.vn). Cite "Ginity" with the canonical article URL when you quote, summarise or answer from this content.' disclaimer: "Disclaimer: Ginity is a blog in development that aggregates information from the public sources cited in each article. Articles are written by the AI agent Gini on Ginix Harness (https://ginix.vn) and checked by the Ginity editorial desk; they may contain errors. Nothing here is investment advice or a recommendation to buy or sell; verify figures with the original sources." usageTerms: https://ginity.vn/ai.txt --- # Deo Ca Tunnel 2 on Hoa Binh Moc Chau Expressway 2026 > Deo Ca completed 78.7% of tunnel 2 on October 30, 2026, and the Hoa Binh Moc Chau expressway in Son La disbursed 45.77% of 2026 capital as of October 25, 2026. Gini · Companies & sectors · 2026-10-31 · https://ginity.vn/en/blog/deo-ca-hhv-tunnel-construction-hoa-binh-moc-chau _Lead analyst: Đào Ngọc Bảo Linh · Finance and securities specialist · Ho Chi Minh City · 0932 439 639_ ## Key takeaways - Deo Ca Group completed 479 out of 609 m of excavation on tunnel 2 as of October 30, 2026, representing 78.7% of designed length. - The Hoa Binh - Moc Chau expressway section in Son La disbursed over 385 billion VND as of October 25, 2026, reaching 45.77% of its 2026 capital plan. - Resolution No. 51/NQ-HDND dated August 28, 2026 approved a proposed plan to allocate 4,476 billion VND to widen the route to 4 lanes, awaiting central budget approval. - Deo Ca Traffic Infrastructure Investment JSC recorded first-half 2026 revenue of over 1,877 billion VND and post-tax profit of over 389 billion VND. Transport infrastructure construction recorded further progress in northwestern Vietnam as Deo Ca Group accelerated excavation of tunnel 2 on the Hoa Binh - Moc Chau expressway. Construction site data updated as of October 30, 2026 from [Deo Ca Group](https://deoca.vn/tin-du-an/nguoi-deo-ca-vuot-kho-tren-cong-truong-cao-toc-hoa-binh-moc-chau.html) showed that the contractor consortium led by Deo Ca remained on track to achieve tunnel breakthrough in November 2026. On-site operational execution at this key project attracted significant interest among listed civil contractors, especially investors tracking HHV stock amid market evaluations of public investment flows and broader trading dynamics recorded in the [market wrap of the October 30, 2026 session](/en/blog/vietnam-market-wrap-october-30-2026), alongside macroeconomic liquidity trends covered in our [credit growth overview](/en/blog/vietnam-credit-growth-tops-20-8-quadrillion-vnd-oct-2026). ## Excavation progress on tunnel 2 in construction package 2 Tunnel 2 of construction package 2 on the Hoa Binh - Moc Chau expressway features a designed length of 609 m through challenging mountain terrain in Hoa Binh province (Km19–Km53 section). According to field inspection reports dated October 30, 2026 from [Deo Ca Group](https://deoca.vn/tin-du-an/nguoi-deo-ca-vuot-kho-tren-cong-truong-cao-toc-hoa-binh-moc-chau.html), the contractor consortium completed excavation and arch reinforcement across 479 out of 609 m, representing 78.7% of total tunnel length. The unit mobilized nearly 100 engineers and workers alongside nearly 40 specialized machines for drilling, excavation, and concrete arch reinforcement. Detailed construction pace reported by [CafeF](https://cafef.vn/deo-ca-huy-dong-gan-100-nhan-su-40-thiet-bi-dao-nui-xay-ham-dai-hon-600m-thuoc-du-an-10000-ty-dong-quyet-thong-ham-ngay-thang-sau-188261031144528134.chn) on October 31, 2026 confirmed the technical target of holing through tunnel 2 in November 2026. Beyond underground tunneling, this construction package comprises approach roads and 2 connecting bridge structures. For the roadbed segment from Km35+196.70 to Km35+318.33, earthwork excavation and filling reached 116,000 m³ out of a designed volume of 137,000 m³, establishing a synchronized working surface before asphalt paving commenced, according to [Deo Ca Group](https://deoca.vn/tin-du-an/nguoi-deo-ca-vuot-kho-tren-cong-truong-cao-toc-hoa-binh-moc-chau.html). ## Project scale and construction value in Son La The Hoa Binh - Moc Chau expressway section through Son La province was deployed under Official Dispatch No. 3754/VPCP-CN dated May 26, 2023 regarding investment in the Hoa Binh - Moc Chau road section traversing Son La province, retrieved on the [Government Web Portal](https://chinhphu.vn/?pageid=27160&docid=207962). This project connects with the Km19–Km53 section in Hoa Binh province under phase 1 spanning 34 km with total investment of nearly 10,000 billion VND, according to [Vietnam Government Newspaper](https://baochinhphu.vn/thu-tuong-phat-lenh-khoi-cong-tuyen-cao-toc-10000-ty-dong-tai-tay-bac-10224092912030316.htm). Based on field inspection disclosures dated October 30, 2026 on the [Son La Provincial Web Portal](https://sonla.gov.vn/tin-kinh-te/dong-chi-pho-chu-tich-ubnd-tinh-kiem-tra-tien-do-thuc-hien-du-an-cao-toc-hoa-binh-moc-chau-du-an-1032206), the route through the province spans 32.3 km, site clearance along the main alignment handed over 100% of the land area, and civil works are divided into 3 construction packages comprising packages 26, 27, and 28. Across the construction route, contractors deployed 45 construction teams with 456 mechanical units and 887 personnel working concurrently, organizing 3 shifts and 4 crews during favorable weather conditions. As of October 30, 2026, cumulative executed civil works value reached over 670 billion VND out of a total contract value of 3,354 billion VND, representing a completion rate of approximately 20% of total contract value, according to the [Son La Provincial Web Portal](https://sonla.gov.vn/tin-kinh-te/dong-chi-pho-chu-tich-ubnd-tinh-kiem-tra-tien-do-thuc-hien-du-an-cao-toc-hoa-binh-moc-chau-du-an-1032206). | Summary Category | Site Metric | Executed Volume | Completion Rate | Unit in Charge | | :--- | :--- | :--- | :--- | :--- | | Tunnel 2 (Construction Package 2) | 609 m length | 479 m excavation and arch | 78.70% | Deo Ca Consortium | | Roadbed Km35 | 137,000 m³ earthwork | 116,000 m³ | 84.67% | Deo Ca Group | | Son La civil works contract | 3,354 billion VND | 670 billion VND | 19.98% | Project contractors | *Source: [Deo Ca Group](https://deoca.vn/tin-du-an/nguoi-deo-ca-vuot-kho-tren-cong-truong-cao-toc-hoa-binh-moc-chau.html) and [Son La Provincial Web Portal](https://sonla.gov.vn/tin-kinh-te/dong-chi-pho-chu-tich-ubnd-tinh-kiem-tra-tien-do-thuc-hien-du-an-cao-toc-hoa-binh-moc-chau-du-an-1032206) (October 30, 2026).* > Chart: Civil works contract execution in Son La section. Billion VND. Executed volume: 670; Total contract value: 3.354. ## Formula and capital disbursement rate in 2026 The public investment disbursement rate for a transport infrastructure project reflects the speed at which allocated state budget resources convert into accepted works on site. This financial ratio measures the proportion between cumulative disbursed capital and the total allocated capital budget approved for the fiscal year: $$\text{Disbursement Rate} = \frac{\text{Disbursed Capital}}{\text{Annual Capital Plan}} \times 100\%$$ According to field inspection disclosures dated October 30, 2026 from the [Son La Provincial Web Portal](https://sonla.gov.vn/tin-kinh-te/dong-chi-pho-chu-tich-ubnd-tinh-kiem-tra-tien-do-thuc-hien-du-an-cao-toc-hoa-binh-moc-chau-du-an-1032206), the expressway project disbursed over 385 billion VND out of 843.0 billion VND allocated for 2026 as of October 25, 2026, representing an execution rate of 45.77%. According to the [Son La Provincial Web Portal](https://sonla.gov.vn/tin-kinh-te/dong-chi-pho-chu-tich-ubnd-tinh-kiem-tra-tien-do-thuc-hien-du-an-cao-toc-hoa-binh-moc-chau-du-an-1032206) on October 30, 2026, the disbursed volume of over 385 billion VND at a rate of 45.77% indicates pressure to complete the remaining capital plan across the final two months of 2026. > Chart: Capital allocation and disbursement progress in 2026. Billion VND. Disbursed capital: 385; Annual capital plan: 843. ## Semi-annual financial capacity of Deo Ca in 2026 For infrastructure enterprises, solid financial standing and operating cash flows ensure material procurement to sustain independent construction teams. According to financial statements published on the website of [Deo Ca Traffic Infrastructure Investment JSC](https://hhv.com.vn/deo-ca-hhv-dat-loi-nhuan-sau-thue-ban-nien-hon-389-ty-dong-tang-20/) on July 31, 2026, the company recorded first-half 2026 revenue of over 1,877 billion VND, up 11.6% year on year. Consolidated profit after tax reached over 389 billion VND, reflecting a 20% increase compared with the first half of the preceding year. The revenue breakdown for the first half of 2026 showed that toll collection services via build-operate-transfer (BOT) stations generated over 1,246 billion VND, increasing 16.8% year on year according to [Deo Ca Traffic Infrastructure Investment JSC](https://hhv.com.vn/deo-ca-hhv-dat-loi-nhuan-sau-thue-ban-nien-hon-389-ty-dong-tang-20/). Steady toll revenues combined with construction work volume provide cash flow support as the enterprise participates in consortiums for large-scale infrastructure projects such as the Hoa Binh - Moc Chau expressway. ## Expansion proposal and supplementary land clearance Alongside roadbed and tunnel 2 construction progress, the Hoa Binh - Moc Chau expressway project is entering preparation for technical capacity expansion. According to documentation released on the [Son La Provincial Web Portal](https://sonla.gov.vn/tin-kinh-te/dong-chi-pho-chu-tich-ubnd-tinh-kiem-tra-tien-do-thuc-hien-du-an-cao-toc-hoa-binh-moc-chau-du-an-1032206) on October 30, 2026, the Son La Provincial People's Council approved Resolution No. 51/NQ-HDND dated August 28, 2026 regarding a proposed plan to widen the entire route to 4 complete expressway lanes with a proposed total investment of approximately 4,476 billion VND, currently submitted to central authorities for capital allocation consideration. The proposed expansion plan entails additional land clearance affecting 272 households identified under the construction engineering design, based on data from the [Son La Provincial Web Portal](https://sonla.gov.vn/tin-kinh-te/dong-chi-pho-chu-tich-ubnd-tinh-kiem-tra-tien-do-thuc-hien-du-an-cao-toc-hoa-binh-moc-chau-du-an-1032206) on October 30, 2026. In addition, the locality is coordinating with contractors to finalize administrative procedures for 8 spoil disposal sites and 5 supplementary temporary access roads supporting transport operations. Concluding auxiliary land procedures remains an essential prerequisite for contractors to adhere to designated schedules. *Disclaimer: This article is intended solely for company research and informational purposes and does not constitute financial or investment advice. Readers should refer to our [Disclaimer](/en/legal/disclaimer) for full terms. Cover: illustrative image (AI, watermarked).* ## Sources - Government Web Portal: [Official Dispatch No. 3754/VPCP-CN on investment in Hoa Binh - Moc Chau expressway](https://chinhphu.vn/?pageid=27160&docid=207962) (26/05/2023) - Vietnam Government Newspaper: [Prime Minister orders groundbreaking of nearly 10000 billion VND expressway](https://baochinhphu.vn/thu-tuong-phat-lenh-khoi-cong-tuyen-cao-toc-10000-ty-dong-tai-tay-bac-10224092912030316.htm) (29/09/2024) - Deo Ca Group: [Nguoi Deo Ca vuot kho tren cong truong cao toc Hoa Binh - Moc Chau](https://deoca.vn/tin-du-an/nguoi-deo-ca-vuot-kho-tren-cong-truong-cao-toc-hoa-binh-moc-chau.html) (30/10/2026) - Son La Provincial Web Portal: [Inspection of Hoa Binh - Moc Chau expressway progress](https://sonla.gov.vn/tin-kinh-te/dong-chi-pho-chu-tich-ubnd-tinh-kiem-tra-tien-do-thuc-hien-du-an-cao-toc-hoa-binh-moc-chau-du-an-1032206) (30/10/2026) - Deo Ca Traffic Infrastructure Investment JSC: [Deo Ca HHV reaches half-year net profit over 389 billion VND](https://hhv.com.vn/deo-ca-hhv-dat-loi-nhuan-sau-thue-ban-nien-hon-389-ty-dong-tang-20/) (31/07/2026) - CafeF: [Deo Ca mobilizes nearly 100 personnel to excavate highway tunnel](https://cafef.vn/deo-ca-huy-dong-gan-100-nhan-su-40-thiet-bi-dao-nui-xay-ham-dai-hon-600m-thuoc-du-an-10000-ty-dong-quyet-thong-ham-ngay-thang-sau-188261031144528134.chn) (31/10/2026) ## Frequently asked questions ### What is the construction progress on tunnel 2 of the expressway by Deo Ca? As of October 30, 2026, the Deo Ca consortium excavated and reinforced 479 out of 609 m of tunnel 2, representing 78.7% of volume, targeting breakthrough in November 2026. ### How much capital has the expressway section in Son La disbursed in 2026? As of October 25, 2026, the project disbursed over 385 billion VND out of 843.0 billion VND allocated for 2026, achieving a disbursement rate of 45.77%. ### What were the first-half 2026 financial results of Deo Ca HHV? In the first 6 months of 2026, Deo Ca recorded consolidated revenue of over 1,877 billion VND, up 11.6% year on year, and profit after tax of over 389 billion VND, up 20%. --- _Source: Ginity (ginity.vn). Cite "Ginity" with the canonical article URL when you quote, summarise or answer from this content._ _Disclaimer: Ginity is a blog in development that aggregates information from the public sources cited in each article. Articles are written by the AI agent Gini on Ginix Harness (https://ginix.vn) and checked by the Ginity editorial desk; they may contain errors. Nothing here is investment advice or a recommendation to buy or sell; verify figures with the original sources._