HCM City proposes early construction of two elevated roads

17-Oct-2020 Intellasia | The Saigon Times | 6:02 AM Print This Post

HCM City is set to develop 55 traffic infrastructure projects next year, with priority given to major projects to cope with traffic congestion hotspots, especially the construction of two elevated roads.

The HCM City Transport Department has proposed that the municipal government approve a scheme to invest in the 55 traffic infrastructure projects in 2021. Regarding capital, the department suggested that VND87.75 trillion be financed by the State budget and VND68.613 trillion be mobilised from private sources through the private-public partnership.

It suggested building the two elevated roads in the inner-city areas with a total investment of some VND32.9 trillion.

Of them, the elevated road No. 1, measuring 9.5 kilometers long, would run from Cong Hoa Street to Thu Thiem Bridge No. 1. The road, once completed, is expected to ease traffic congestion facing the inner-city streets and some roads leading to the city’s Tan Son Nhat airport.

The elevated road No. 5, which will be 21.5 kilometers long, will start from Station 2 in Thu Duc District, running along the National Highway No. 1 to An Suong.

According to the city’s transportation development plan earlier approved by the government, the city was supposed to build five elevated roads with a total length of 70.7 kilometers by 2020. However, 15 years since the plan was outlined, the five road projects still remain on paper.

Meanwhile, many investors had come together to study the development of the elevated roads but then gave up.

In 2007, South Korean firm GS E&C studied building the elevated road No. 1 with four lanes and $340 million in investment. In 2009, the firm requested that the project be suspended due to financial infeasibility.

In 2009, the Vietnam Urban and Industrial Development Investment Corporation suggested building the elevated road No. 5, with funding of over VND36.6 trillion but then quit the project as well.

Currently, the HCM City Infrastructure Investment JSC (CII) wants to develop an elevated road in the city.

In late June this year, CII said that it was studying a 14-kilometer-long elevated road project, which would run from Truong Chinh Street in Tan Binh District to Nguyen Van Linh Street in Binh Chanh District and require VND24.5 trillion in investment.

Bui Hoa An, deputy director of the HCM City Transport Department, said that the department is working with other agencies to propose tapping the State budget to build an elevated road first, aimed at ensuring the feasibility of the project.

https://english.thesaigontimes.vn/78941/hcmc-proposes-early-construction-of-two-elevated-roads.html

 


Category: Business, Vietnam

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