Regarding BT projects, or land-for-infrastructure projects, the Hanoi People’s Committee has stopped the implementation of new projects and projects where bidding documents have not been issued, according to the 2020 Investment Law.
The municipal authorities have assigned the Hanoi Planning and Investment Department (HPID) to inform investors registering to implement BT projects about the suspension of the investment preparatory work and report to the city’s People’s Committee.
The city has assigned departments and branches to research and give advice to the People’s Committee on plans to use land to create sources of revenue for the local budget (put land-use rights up for auction, organize auctions to choose investors, etc.) in order to develop transport infrastructure, including those expected to be under the BT mode.
“These are important resources in the future which can be used for socio-economic development purposes of the capital city,” said the Hanoi People’s Committee.
A preliminary check has found that 91 BT projects will need reconsideration and suspension of investment preparatory work.
Of these, reciprocal land banks have been found for 39 BT projects, with total land area of 5,794 hectares, including 3 hectares (1 project) of ‘clean land’ (the site clearance has been completed), 12.47 hectares (2 projects) of offices put under the management of local authorities, and 5,778.53 hectares (36 projects) which have not been cleared.
Meanwhile, in 52 projects, the reciprocal land banks have not been clearly defined yet.
These 39 projects include ones of many big realtors, such as the 3.5 Belt Road, i.e the intersection between the 3.5 Belt and Thang Long Boulevard proposed by Him Lam JSC.
The land bank expected to be used for payment is the one located on the left dyke of Red River (from Chuong Duong bridge to Thanh Tri bridge), 320 hectares, in the wards of Long Bien, Cu Khoi, Bo De, Thach Ban (Long Bien district) and Dong Du commune in Gia Lam district.
One of the most noteworthy projects is the Mieu Mon - Huong Son economic development backbone project proposed by the Hanoi Import-Export JSC (Geleximco) and the Investment Construction and Infrastructure Development Co (ICID). The estimated land bank for payment is 310 hectares in Quan Son tourist site of My Duc district.
Other key projects are also on the list, including the section from Phuc La - Van Phu to Phap Van – Cau Gie highway on 3.5 Belt Road, proposed by the joint name of Eurowindow Holding, Dong Duong Development and Construction Investment JSC and The Vinh RIT JSC. The reciprocal land bank, 176 hectares, is in the commune of Dai Ang of Thanh Tri district.
Of the 52 projects whose boundaries have not been found yet, there are many sections of the 2.5, 3, 3.5 and 5 Belt Roads.
Besides, there are many important projects, including Tu Lien Bridge and the road from the bridge to the Hanoi-Thai Nguyen Highway proposed by Sun Group; and Thuong Cat and Duong 2 Bridges.