HCM City approves two transport projects worth over VND12 trillion
The People’s Council of HCM City yesterday morning, April 22, approved two transport projects worth over VND12 trillion in total, which would be constructed between 2021 and 2025.
|An artist’s impression of the An Phu Intersection project in Thu Duc City, HCM City. - Photo: HCMC Department of Transport|
The pre-feasibility studies of the two projects, including the An Phu Intersection in Thu Duc City and the renovation of the Tham Luong, Ben Cat and Nuoc Len canals, were approved by the HCMC Evaluation Council on April 20.
The An Phu Intersection project requires an investment of VND3,926 billion, including VND1,800 billion from the central State budget and VND2,126 billion from the city’s budget.
The intersection, when completed, will be a three-level structure, accommodating overpasses and a tunnel. It is the starting point of the approach road to the HCMC-Long Thanh-Dau Giay Expressway and the end point of Luong Dinh Cua Street, and often sees heavy traffic jams.
The renovation of the Tham Luong, Ben Cat and Nuoc Len canals requires an investment of VND8.2 trillion, including VND4 trillion from the State budget and VND 4.2 trillion from the city’s budget.
The HCMC Management Board for Investment and Construction of Urban Infrastructure Projects has been selected as the investor of the project.
The project is 32 kilometers long and will cross the districts of 12, Binh Tan, Tan Phu, Tan Binh, Go Vap, Binh Thanh and Binh Chanh.
It is expected to help HCMC reduce flooding in the central business district and the northwestern region. It will also contribute to improving waterway connectivity between the city and southern provinces.
HCM City is seeking foreign investment over the next five years for seven major projects, including four metro lines.